Obvious is the effect that the inflation in the consumption of products in Greek supermarket, according to data from the research company IRI. Between January-September 2022, the turnover of fast moving consumer goods increased 4.5%, which is attributed to appraisals and not on the increase in demand. Specifically, it stood at EUR 6.2 billion in the first nine months of 2022 from EUR 6 billion in the first nine months of 2021. In the same period, sales volume declined by 1.4% in the first nine months of 2022 compared to the same period last year.
What is evident from the IRI data in the monthly comparisons is that the gap between the growth rate of sales value and sales volume is widening. Specifically, in September sales value increased by 11.1% year-on-year in September. Similarly, sales volume in September was marginally up by 0.3%.
At the same time, the share of private label products continues to remain high at 15.9% in 9M 2022, with the category running at 12.8%.
With regard to the three major categories of fast moving consumer goods, IRI data shows that packaged food sales value in the nine months increased by 4.9%, personal care and beauty products by 2.4% and detergents/cleaners by 0.5%. However, sales volume in packaged food is down 0.6%, personal care and beauty products down 4.7% and detergents/cleaners down 5.9%.
As regards the 11 main product categories, sales volumes increased in three of them, namely packaged food (1.7%), snacks (1.4%) and non-alcoholic beverages (0.5%). On the flip side, there was a decline in sales volume in dairy (4.6%), frozen food ( 4.9%), cooking materials (0.7%), alcoholic (5.6%), personal care and beauty articles (4.8%), personal hygiene articles (4.5%), household cleaning/detergents (6.3%) and other household articles (5.5%).
It is noted that the largest price increases from the beginning of the year until September were recorded for cooking materials (10.8%), personal hygiene products (10.5%) and dairy products (9.3%).
Maria Tsivgeli
