Supermarket turnover up 8.9% in 2023, NielsenIQ report says

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

More specifically, the report on FMCGs noted a 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 beverage recorded a 9% growth rate, unchanged from 2022, with household products rising by 0.8% in volume Bazaar 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).

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