Less food, even if it is milk, but also less basic household items such as detergents are now being bought by consumers in Greece to cope with the greatly increased costs caused by large and continuous price increases. The fact that the turnover Supermarket closed positive in 1H 2022, up 1.1% or 1.6% in FMCG sales, driven by price increases alone.

According to IRI data provided by “Mr” Supermarket turnover increased in the first half of 2022 compared to the first half of 2021 by 1.1%, but sales fell by 2.2%. However, a 3.4% increase in the price per unit of output leads to even a slight increase in turnover. Especially in the FMCG category, sales grew by 1.6%, with a turnover generated in the 1st half of 2022 amounting to 4.127 billion euros from 4.081 billion euros in the first half of 2021.

Sales volume recorded a decline in all three main product groups in supermarkets: 1.5% for food, 5.4% for personal care and care products and 7.1% for household items (detergents, cleaning products, stationery etc.). . Sales of food products increased by 1.8%, personal care and beauty products by 0.3%, while the turnover of home goods is also declining by 2.5% compared to the first half of 2021.

Of the 11 major product categories, only two saw increases in sales: packaged food (1.9%) and non-alcoholic beverages (0.3%). The IRI indicators for the rest of the product categories in terms of sales volume change in the first half of 2022 compared to the corresponding period last year are indicative:

• Alcoholic drinks: -9.2%
• Other household goods: -7.1%
• Detergents, household chemicals: -7%
• Dairy: -5.6%
• Personal care products and cosmetics: 5.6%
• Frozen foods: -5.5%
• Personal care items: -5.2%
• Cooking materials: – 2.4%
• Snacks: -0.4%

The reduction in sales in some cases of goods is such that, despite the increase in prices, losses in the turnover of retailers are not covered. Thus, a decrease in the value of sales was recorded: alcoholic beverages by 8.1%, other household items by 3.3%, personal hygiene and beauty products by 2.4%, detergents and cleaning products by 2%, frozen food by 0, 7%.

Why has there been a decline in sales? According to IRI, price increases are recorded in all major product categories, which range from 1.3% in alcoholic beverages to 9% in culinary and personal care products on an annualized basis.