The implementation of the four new drastic government measures starts tomorrow, Friday March 1st to address punctuality and stimulate healthy competition throughout the supply chain.

According to the estimates and data of the Ministry of Development, from the reduction in the measure of supplier discounts to supermarkets, consumers will see reductions in more than 3,000 products that reach up to 18.1%. Especially for baby milk, as mentioned, because it is sold without promotions, the reductions (about 15%) will be passed directly to the price on the shelf, while a gradual price reduction in the prices of fresh products will also be brought about by the application of net-pricing.

Furthermore since the implementation of the reform to prevent unjustified revaluations, in February alone, its implementation has contributed to their reduction by 76% from one year to the next.

The announcement states: “Greece is taking targeted measures that are being implemented at European level for the first time. The structural interventions as specified by the Minister of Development, Kostas Skrekas, demonstrate the determination of the Government to implement practical measures that reform the structure of the retail market and correct distorted commercial practices. The main purpose of all relevant government initiatives is the permanent de-escalation of inflation in supermarket products for the benefit of the consumer.”

With its announcement, the Ministry of Development informs about the four new government measures by publishing detailed tables.

THE FOUR NEW GOVERNMENT MEASURES – ANALYTICAL TABLES:

Reducing supplier discounts to supermarkets and transferring the benefit to the consumer by reducing list prices

The government’s decision to proceed with the reform obliging suppliers to reduce their bids by 30% to retail companies, with the obligation to reduce list prices by the same amount, led to reductions in more than 3,000 products (1,500 had reached the Ministry of Finance by the time the Cabinet began).

Categories include general cleaning products (laundry detergents, dish detergents, surface cleaners of all kinds, bleaches) and personal hygiene products (shampoo and conditioner, shower gels, soaps, toothpastes, baby and children’s diapers).

The reform has resulted in a significant average wholesale price reduction across the seven product categories. Specifically, the average price reduction in baby and children’s diapers is 18.1%, in shampoos, shower gels and conditioners 17%, in toothpastes 15.1%, in laundry detergents 15.6%, in dishwashing detergents 16%, in cleaners of all kinds 15.8% and soaps 12.7%.

Average wholesale price reduction by product category:

Product category Average reduction

Baby and children’s diapers -18.1%

Shampoo, shower gel and conditioner -17.0%

Dish detergents -16.0%

Cleaners of all kinds -15.8%

Laundry detergents -15.6%

Toothpastes -15.1%

Soaps -12.7%

For example, the average price reduction on the following brands is as follows: Pampers (baby and children’s diapers) 18.9%, Colgate (toothpastes) 18.8%, Ariel (laundry detergents) 19.5%, Syoss (shampoo, shower gels and conditioners) 23.0%, Ava (dish detergents) 17 .5% and Old Spice (shampoo, shower gel and conditioner) 20.4%.

Average price reduction across 108 different brands:

# Brands Category Average decrease

1 HARPIC Cleaners of all kinds -41.9%

2 WC NET Cleaners of all kinds -39.7%

3 SYOSS Shampoos, shower gels and conditioners -23.0%

4 AROMA Shampoos, shower gels and conditioners -22.6%

5 BEARFRUITS Shampoos, shower gels and conditioners -22.2%

6 FA Shampoos, shower gels and conditioners -21.0%

7 BIOTEN Shampoos, shower gels and conditioners -20.7%

8 OLD SPICE Shampoos, shower gels and conditioners -20.4%

9 BARNANGEN Shampoo, shower gels and conditione-20.0%

10 ORZENE Shampoos, shower gels and conditioners -19.6%

11 AX Shampoos, shower gels and conditioners -19.6%

12 ARIEL Laundry detergents -19.5%

13 FINISH Dish detergents -19.3%

14 L’Oréal Shampoos, shower gels and conditioners -19.1%

15 GOT2B Shampoos, shower gels and conditioners -19.1%

16 SAFE NIGHTS Baby and children’s diapers -19.1%

17 GLISS Shampoos, shower gels and conditioners -19.1%

18 BABYLINO Baby and children’s diapers -19.0%

19 THIRTY Shampoos, shower gels and conditioners -19.0%

20 PAMPERS Baby and children’s diapers -18.9%

21 NIVEA Shampoos, shower gels and conditioners -18.8%

22 COLGATE Toothpastes -18.8%

23 Herbal Essences Shampoos, shower gels and conditioners -18.5%

24 CILLIT Cleaners of all kinds -18.5%

25 PLANET Dish detergents -18.3%

26 BOT THERAPY Shampoos, shower gels and conditioners -18.1%

27 ELVIVE Shampoos, shower gels and conditioners -18.1%

28 FRUCTIS Shampoos, shower gels and conditioners -18.1%

29 HIMALAYA Toothpastes -18.0%

30 WELLAFLEX Shampoos, shower gels and conditioners -17.9%

31 EUREKA Laundry detergents -17.9%

32 DIXAN Laundry detergents -17.8%

33 ULTREX Shampoos, shower gels and conditioners -17.6%

34 Ava Dish detergents -17.5%

35 LUX Soaps -17.5%

36 NOXZEMA Shampoos, shower gels and conditioners -17.5%

37 TOPINE Cleaners of all kinds -17.3%

38 HEAD & SHOULDERS Shampoos, shower gels and conditioners -17.0%

39 FABULOUS Cleaners of all kinds -16.8%

40 JOHNSON BATH Shampoos, shower gels and conditioners -16.8%

41 MEGA Soaps -16.7%

42 NEUTRO ROBERTS Toothpastes -16.7%

43 BOROTALCO Shampoos, shower gels and conditioners -16.7%

44 AIM Toothpastes -16.6%

45 PANTENE Shampoos, shower gels and conditioners -16.6%

46 STR8 Shampoos, shower gels and conditioners -16.3%

47 PERSIL Laundry detergents -16.0%

48 ESSEX Laundry detergents -15.9%

49 PALMOLIVE Shampoos, shower gels and conditioners -15.9%

50 AROMATICS Shampoos, shower gels and conditioners -15.7%

51 WASH&GO Shampoos, shower gels and conditioners -15.5%

52 OMINO Laundry detergents -15.4%

53 AFROSO Cleaners of all kinds -15.2%

54 OVERLAY Cleaners of all kinds -15.2%

55 SANEX Shampoos, shower gels and conditioners -15.1%

56 VIAKAL Cleaners of all kinds -15.1%

57 FISSAN Shampoos, shower gels and conditioners -15.1%

58 OMO Laundry detergents -14.9%

59 ORAL B Toothpastes -14.9%

60 BIONOL Cleaners of all kinds -14.6%

61 SEPTON Soaps -14.4%

62 NEOMAT Laundry detergents -14.4%

63 DETTOL Soaps -14.2%

64 KLINEX Cleaners of all kinds -14.2%

65 DUCK Cleaners of all kinds -14.1%

66 FAIRY Dish detergents -14.1%

67 DOVE Shampoos, shower gels and conditioners -14.0%

68 BATISTE Shampoos, shower gels and conditioners -13.9%

69 VIDAL Shampoos, shower gels and conditioners -13.8%

70 ROL Laundry detergents -13.8%

71 CIF Dish detergents -13.8%

72 SOFLAN Laundry detergents -13.7%

73 SWIFFER Cleaners of all kinds -13.2%

74 PRODERM Laundry detergents -13.1%

75 TREASURES Shampoos, shower gels and conditioners -13.0%

76 AJAX Cleaners of all kinds -13.0%

77 JOHSON BABY SHAMPOO Shampoos, shower gels and conditioners -12.6%

78 NATURE Soaps -12.5%

79 SENSODYNE Toothpastes -12.4%

80 MR MUSCLE Cleaners of all kinds -11.9%

81 PERIODONTAX Toothpastes -11.8%

82 ARKADI Laundry detergents -11.7%

83 PROMPTLY Cleaners of all kinds -11.6%

84 GLORY Soaps -11.4%

85 SKIP Laundry detergents -11.3%

86 TIMOTHY Shampoos, shower gels and conditioners -11.2%

87 ECOVER Dish detergents -11.2%

88 BIO Cleaners of all kinds -11.0%

89 SHOUT Cleaners of all kinds -11.0%

90 PAPOUTSANIS SOAP Soaps -11.0%

91 Agnotis Baby and children’s diapers -10.9%

92 GLYCERINE Soaps -10.8%

93 JOHNSON KIDS Shampoos, shower gels and conditioners -10.5%

94 CHICCO Shampoos, shower gels and conditioners -10.3%

95 AQUAFRESH Toothpastes -10.2%

96 FORNET Cleaners of all kinds -10.2%

97 HD Shampoos, shower gels and conditioners -9.8%

98 ROLI Cleaners of all kinds -9.8%

99 LE PETIT MARSEILLAIS Shampoos, shower gels and conditioners -9.5%

100 SVELTO Shampoos, shower gels and conditioners -8.8%

101 MEA NATURA Shampoos, shower gels and conditioners -8.7%

102 KARAVAKI Soaps -8.6%

103 TIDE Laundry detergents -8.3%

104 ENDLESS Dish detergents -7.4%

105 CHLOROACTIVE Cleaners of all kinds -7.4%

106 ARLEM Soaps -6.8%

107 NINJAMAS Baby and children’s diapers -5.3%

108 CREST Toothpastes -4.9%

Cap on the gross profit of infant formula

In the intervention for baby milk, a ceiling was set on the gross profit margin of the companies that import, produce and distribute baby milk in Greece. This is equal to the operating cost of the business, in the relevant product category, plus 7% of net sales.

This particular reform brings reductions in the initial supply prices of approximately 15% on average for most baby milk products of 1st (0-6 months) and 2nd (6-12 months) infant age. Since the baby milk is sold without promotions, these reductions (around 15%) will be directly passed on to the shelf price.

Prevention of unjustified markups

The measure that prohibits suppliers of supermarkets that increase the prices of their products from implementing promotional actions for three months on these products, concerns almost all products sold in supermarkets. Fresh produce (fruit, vegetables, meat, fish) and certain consumer durables (eg clothing) are excluded.

It is characteristic that in February 2024, after the implementation of the measure, 890 product codes were revalued, when in the same period last year (February 2023) 3,760 product codes were revalued. The implementation of the regulation contributed to the reduction of revaluations by 76% from one year to the next.

Net – Pricing on fresh products

The latest government measure obliges the suppliers of fresh products (fruits, vegetables, meats) to sell their products in the retail trade at “net” prices (net – pricing). Allowances for product returns and refunds are allowed, only at 3% of the sales price before discounts, credits and other benefits.

This measure contributes to greater transparency in the pricing of fresh products. The application of net-pricing is estimated to gradually bring down the prices of these products on the shelf.

With the above interventions, established practices and malfunctions of decades that falsified the competition and altered the consumer’s criterion are corrected. The main priority of the Greek government is the protection of all consumers and the orderly functioning of the market which will lead to a de-escalation of inflation.