Supermarket turnover expands 8.2% in Q1

Supermarket turnover grew 8.2% in the first quarter of 2023 compared with the same period in 2022, NielsenIQ said in a report released on Friday. 

The report attributed this positive development to an 8.1% rise in fresh food and an 8.2% increase in packaged food and beverage. The personal care category recorded a 7.6% increase in turnover while house products grew 12.1%. 

NielsenIQ said an 8.7% increase in rapid consumer products was exclusively related to the inflation rate, as prices rose 12.2% and volumes fell 3.5% in the January-March period. 

Private label products further raised their market share to 25.4% from 23.8% at the end of 2022, while branded product producers further strengthened their promotion strategy to 68.2% from 66.7% in 2022. 

Large supermarkets recorded the biggest percentage increase in turnover, while among the country’s regions, Crete and the Peloponnese posted growth rates of 15.4% and 6.8%.