New product categories are expected to join the “shopping basket“.

Of the 51 items it currently includes, it will reach 60 and another category of products will also be added.

Products that will be included in the basket will be: non-perishable milk and condensed milk, yellow cheeses, beef, cold cuts, soft drinks, chocolate and three types of legumes (lentils, beans and chickpeas).

It is noted that, according to the Minister of Development and Investment, Adonis Georgiadis, during the 14th week of implementation, the “basket of households” kept its value stable. Of the 833 products, 65 showed growth, 48 declined, and 720 remained stable. According to the minister, the first new reductions in the “basket for the population” are expected during February.

Three new baskets.

At the same time, three new consumer baskets are expected to be launched in the near future.

The Ministry is planning a Lenten basket due to Lent, then there will be a basket with things related to the Easter table, and a basket for children is also planned, as was the case during the Christmas holidays.

The ministry is also launching a change of signs in supermarkets. In fact, a ministerial decision will be ready next week that the price per liter or kilogram will be clearly visible on supermarket signs so that the consumer can see the price per unit.

A large supermarket chain faces a fine

At the same time, according to ERT, it is possible that in the near future a fine will be imposed on the well-known supermarket chain, as there are signs of theft.

The check has not been completed, but the fine is practically “locked”, as stated by the Ministry of Development.

The amount of the fine is several hundred thousand euros, with the name of the company expected to be made public.

Consumption declines in January

The first month of the year is over and organized retail is not doing so well. IRI Senior Consultant Vangelis Foskolos notes in an interview with APE-MPE that the decrease in consumption is increasing and is expected to decrease in volume throughout the month, while the value of sales will increase, mainly due to higher prices for some categories of goods.

Remarkably, he said, most businesses started the new year on a positive note, hoping they won’t have to go through new price hikes even as operating costs remain high. They largely contain prices, continue to tirelessly carry out promotions, participating in the initiative of the ministry on the consumer basket in the interests of the end consumer.

According to him, the Market Pass is expected to give a significant boost to the market and strengthen the course of sales: the implementation of the measure will give a big impetus to organized retail sales,” he emphasizes.

Focusing on the profile of the Greek consumer and the new shopping habits he has adopted, Mr. Foskolos notes that he is discreet in his purchases and knows in advance how he will behave in the supermarket. Essentially, he searches for offers, checks quality, compares prices and quantities, and makes targeted purchases. “The economic crisis and the coronavirus pandemic have fundamentally changed consumer buying behavior and, combined with declining disposable income and rising spending on basic needs, are adjusting the final shopping list, with the balance tilting towards private label products as well as those sold on tenders. “, he emphasizes.

Private label products are on the rise

Notably, private label products continue to be a popular category for consumers and are becoming a determining factor in supermarket turnover. In 2022, private label share remained high at 16.3%, with category sales up 16.4% compared to 2021, according to market research firm IRI.

With declining disposable income coupled with inflationary pressures favoring the private goods category, retail strategy analyst Konstantinos Machiras told APE-MPE that the main challenge for businesses is to maintain share in an environment where competition between brands and private labels will continue. become more active. As he explains, “The household basket may have achieved its goal of price containment, but it has created fierce competition between retailers and non-basket suppliers.” There, price competition is much fiercer.”

Focusing on the repricing of products, he assesses the de-escalation and predicts that small food adjustments of the order of 2-3% will continue until April, which will be much more easily absorbed by Greek retailers. trade.

Regarding organized retail turnover this year, he notes that “an increase in sales volume can be recorded from May, mainly in regional markets, on islands and in holiday centers, as well as in cash trade due to the start of the tourist season. This fact will help smooth the path to the normality that we expect by the end of 2023 and the beginning of 2024, if we do not have other surprises,” says Mr Maceiras.