Supermarket turnover climbs 8.9% in 2023

Supermarket turnover grew 8.9% in 2023, reflecting the high inflation rate pressures in the country, NielsenIQ said in a report released on Monday.

The report on fast-moving consumer goods (FMCGs) noted significant double-digit price increases in the first six months of 2023 and a gradual de-escalation of inflationary pressures in the second half of the year, combined with an increase in volume and consumption.

FMCGs raised their sales in value by 9.1% in 2023, slightly up from 8.7% in 2022, with demand rising by 0.4%. Food and beverages recorded a 9% growth rate, unchanged from 2022, with household products rising by 0.8% in volume. Miscellaneous category sales grew 4% in 2023, while fresh produce jumped 10.2% in the year.

Hypermarkets recorded a 12.4% growth rate, while smaller supermarkets recorded a 7.2% growth rate. In Athens and Thessaloniki, turnover rose 8.1% and 8.3%, respectively, while Crete and Peloponnese recorded the highest growth rates (12.9% and 9.5%, respectively).