The market moves ahead in a festive manner Easter with traders expecting festive turnover, including travel and food and accommodation services, to top last year’s €1.5bn.

As far as the cost of the festive table is concerned, according to the first data available to the Ministry of Development, the products included in this year’s “Easter Basket” have the same or even lower prices compared to 2023.

In the meantime, the control crews are “plowing” the market, as this year Easter is essentially within the summer tourist season and the increased tourist traffic from abroad should be taken into account with the “imported consumption”.

In order for consumers to be able to research the market and shop more comfortably, the stores will be open this Sunday.

At the same time, traffic is also increasing in supermarkets with consumers taking advantage of the combination “Household Basket”the “Lent Basket” and “Easter Basket” to organize their festive table in time.

In particular, the “Easter Basket” has been put into effect from April 24 to May 4, while the “Lent Basket” remains in effect until May 4. It is noted that the “Easter Basket” is an extension of the “Household Basket”, as four food categories are added, in order to constitute an additional outlet for consumers. The “Easter Basket” includes the following products: Lamb, goat, bun and Easter chocolate eggs and related products.

The products included in this year’s “Easter Basket” have the same or even lower prices compared to 2023 according to the first data available to the Ministry of Development. “Something, after all, that was also the main pursuit of the Minister of Development, Kostas Skrekas,” as officials of the ministry comment to APE-MPE. More specifically, the price of lamb in supermarkets is at the same levels as last year, i.e. just under 10 euros per kilo. Consumers can find lamb from 9.78 euros to 9.99 euros per kilo.

The price of goat, which is slightly more expensive than lamb, is exactly at the same level as in 2023. Consumers can find it in the “Easter Basket” for just under 10 euros up to 10.99% per kilo. The prices of the bun remained unchanged compared to 2023, while the prices of products such as eggs or feta cheese have decreased.

As the same executives commented to APE-MPE, the tools provided by the Ministry of Development in cooperation with the market yield the maximum possible benefits under the specific conditions of successive crises and inflationary pressures. Consumers can choose basic products to fill their Easter table at the same or even lower prices than in 2023. And that is something that is not in doubt.

They further noted: “the brake on Easter Basket commodity prices combined with the already observed positive performance of supermarket price control measures create an optimistic forecast framework for further de-escalation of food inflation, which has already receded . According to ELSTAT data, food inflation is at 5.3% in March 2024 from 8.2% in January. It has fallen almost 3% in two months while in the last two months food prices have decreased by 1.2%.

Consumers also have at their disposal from Monday 22 April the “Godfathers’ Basket” which includes a total of 12 product categories, as follows: Easter candles – toys, board / puzzles, doll toys, dollhouses and other accessories (imitation toys) , baby toys, action figures, building and crafting toys (eg brick toys), vehicles/RC, electronic toys, sports toys (eg balls, basketballs and goals), stuffed animals, musical toys, chocolate eggs and corresponding products (optional).

Expectations for increased market turnover

The turnover of the Easter market is expected to increase, even with inflation, compared to previous years, both in food markets and in commercial stores. This is what the president of the Chamber of Commerce and Industry of Piraeus and the Regional Chamber Council of Attica, Vassilis Korkidis, said recently, regarding the estimates and expectations of this year’s Easter market in the Basin of Attica and the Argosaronic Islands.

According to Mr. Korkidis, the increased shopping traffic, in view of Easter, is expected to bring the “resurrection” to the entire Greek retail market after, in fact, a two-month sluggish period that followed this year’s winter sales. Despite the fact that the Easter market is short in duration, it is nevertheless quite intense in turnover and volume of work, both in the food sector, due to the Easter table, and in many other retail sectors, due to the traditional gifts.

He said: “taking into account last year’s initial misgivings about limited consumption due to prolonged accuracy, which were not confirmed, this year’s turnover is expected to be, even if inflationary, increased compared to previous years, both in local food markets and in shops of Attica. Parents and godparents, like every year, this year as well, will meet their family and social obligations in a dignified way, buying the established Easter gifts for children and baptisms.

More generally, the Easter festive turnover, including travel and catering and accommodation services, which will be reflected in the May statistics, is expected to exceed last year’s 1.5 billion euros, since, this year, the Greek Easter is essentially within summer tourist season and the increased tourist traffic from abroad should be taken into account with “imported consumption”. In the central markets of Attica, sales, during M. Week, are expected to improve, while the traffic in the shops will be felt with the start of the extended holiday hours.

Regarding the Easter gift, the president said that the Easter market, as is known, “resurrects” with the payment of the Easter gift, which, after the increase in the minimum wage and employment in the private sector, will exceed 1 billion this year . euros, while it should be paid by the companies to the employees by M. Wednesday, May 1st.

“The market expects to absorb a large part of the Easter gift and, combined with wage increases, it is hoped that consumers will be affected as little as possible by the precision in food and, above all, by the “arrow” which, again this year, is observed prices to move upwards, both due to production costs for farmers and the reduction of livestock. It is a fact that food inflation is currently at a high of 5.4%, however, compared to the corresponding period last year, it has de-escalated, giving a little breather to the family budget,” said Mr. Korkidis.

At 190 euros the expenditure per household at Easter

Changes in the Easter consumption and eating habits of Greeks reflect the results of a survey by the Consumer Goods Retail Research Institute conducted in March 2024 with a sample of 800 consumers from all over Greece. Specifically, one in four households will travel outside urban centers for Easter, family tables will be smaller with more preparations at home, while spending on shopping remains constant, at 190 euros per household.

In more detail, the IELKA survey shows that the majority of Easter shopping will take place during Holy Week. In particular, only 35% will make the purchases earlier, 53% during the Holy Week and 9% at the last minute.

Overall spending on Easter shopping is expected to remain flat with a downward trend based on consumer responses. 40% estimate that they will reduce their purchases, while 34% that they will increase them. 26% believe that it will remain unchanged. On average, it is estimated that this year’s Easter expenditure per household will amount to 190 euros, 120 euros for groceries and 70 euros for other items, such as e.g. gifts

One in four 4 households (26%) declare that they will travel on Easter outside the urban centers to a village or island. This percentage in the previous decade even reached 53%.

Family tables these days will be smaller than in the past. 43% declare that they will participate in large family tables of more than 10 people. This percentage is up from 40% in 2023, but clearly down from 67% in 2019.

At the same time, the Do-It-Yourself (DIY) trend in cooking and baking is growing. In other words, consumers choose to make their own sweets and other Easter items in higher percentages than in the past. The percentage who will make sweets at home rises from 43% to 50% and dyeing eggs rises from 62% to 79%.

As for lamb and goat, lamb spitting although an increase is recorded in relation to 2023, compared to the past, the rates are low. Specifically, 33% say they will skewer lamb compared to 32% in 2023, when the percentage in 2019 was 67%. Baking in the oven is recorded increased from 40% to 46%. According to IELKA, this development in combination with the reduced number of people at family tables translates into estimates for purchases of smaller quantities, but also the choice of different “cuts” for the types of meat by consumers. 42% state that they will buy lamb or goat from the butcher, while 31% from the supermarket. A reduced percentage of 9% (versus 12% in 2023) declares that they will have an Easter meal in the catering industry.