Greece

Air care is a discretionary category, thus is facing the challenges of offering non-essential products in a time of economic uncertainty and inflationary pressures. That said, sales are still managing to show positive volume and value growth, albeit…

In 2022, the government scheme 'Recycle, Replace Appliances' was launched, offering subsidies if consumers replaced old split air conditioners and upgraded to more energy-efficient ones. This contributed to huge growth in sales of split air…

Due to high airport fees at Athens International Airport “Eleftherios Venizelos” (AIA), Ryanair shut down its Athens base in October 2022. The airline withdrew two aircraft between October 29th to March 31st, leading to a reduction of scheduled…

Overall, alcoholic drinks in Greece saw flat total volume sales in 2023, despite the impact of inflation and the cost-of-living crisis upon disposable incomes and purchasing power. Off-trade volume sales fell in a number of categories, influenced by…

Upon the lifting of all COVID-19 related regulations, including the compulsory use of face masks, social distancing rules and compulsory self-isolation, there has been a surge in illness which has been a major contributor to sales growth for…

A post-COVID-19 return to business travel and events such as christenings and weddings benefited apparel accessories in 2023, with a notable increase in volume sales of ties. Belts, too, are benefiting from a return to office work and socialising and…

Inflation and the cost of living crisis affected the performance of apparel and footwear in Greece in 2023, with price increases resulting in substantial current value growth across all categories. Volume sales increased, too, post-COVID-19; however,…

Apparel and footwear specialists saw current value growth in 2023. Inflation and continued price increases have been driving more and more consumers into the second-hand market, which is gradually gaining ground in Greece. Recently, the Bulgarian…

Following Olympia’s EUR50 million investment in Public, which left Olympia owning 98% of the Public-Media Markt venture in Greece and Cyprus, the Media Markt stores have been rebranded Public + home and specialise in white appliances. Consequently,…

The Athens in Greece report provides comprehensive city level information benchmarked against other cities in the country and region. The report includes historic data and forecasts on city population, consumer expenditure, digital penetration,…

In 2023, away-from-home tissue and hygiene recorded an uplift in value sales, while volume sales were challenged by rising prices. Horeca operators faced reduced profit margins in 2023; the result of price hikes in operating costs due to a rising in…

Excluding hair care and baby wipes, the baby and child-specific category registered volume decline in Greece in 2023, with current value growth resulting from unit price rises. Volume decline can be attributed to falling birth rates, leading to…

The low birth rate in Greece is a challenge for retail volume sales of baby food. While the price hikes in 2022 and 2023 meant that baby food is set to record a positive current retail value growth, parents are finding it difficult to afford. As…

Inflation and regular price increases have significantly affected the baked goods category in 2023. Amid rising costs, bakeries suffered a significant drop in revenues, meaning price increases were essential as most players could not absorb the…

In 2023, growth in the largest subcategory in beauty and personal care in Greece, body wash/shower gel, was driven by price increases and tourism. Private label registered brand share growth owing to the tightening of household budgets.

High inflation and its subsequent impact on local consumers’ disposable income significantly impacted purchasing habits and brand developments across beauty and personal care in Greece in 2023.

Beer in Greece posted a slight decrease in total volume sales in 2023, despite the market size still not having fully recovered to the 2019 pre-Coronavirus (COVID-19) level. However, this was mostly due to the decrease in total volume sales of the…

Despite bleach remaining in a volume slump and suffering from maturity, the category is actually somewhat benefitting from consumers' reduced purchasing power. Essentially, bleach offers a cheap and effective cleaning solution, despite its negative…

Given the strong increase in tourism flows, lodging, travel modes and foodservice had almost fully recovered to pre-pandemic levels by 2022, although this was not the case for intermediaries. Even though value sales in intermediaries posted a strong…

There is a very high penetration of private label within bottled water. As such, leading companies are focusing on their brands and forming strategic partnerships with key retailers to produce private label water. This offers opportunities for…

Breakfast cereals have witnessed strong price inflation in recent years and this trend remains prominent in 2023. Many Greeks are opting to make their own cereals instead of buying packaged cereals, guided by a plethora of easy recipes available…

Greece’s business environment lags behind it regional peers, burdened by rigid labour market regulations, slow and inefficient judicial system, prevalent corruption, heavy taxation and weak financial system. The country boasts rather highly educated…

Due to the increase in price points, general inflation, and consumers' lower disposable incomes, the demand for butter has decreased. Consumers have looked to make butter last longer, to purchase cheaper varieties or simply remove the product from…

While traditional cafés offering table service have been strongly impacted by declining disposable incomes leading to drops in footfall and sometimes business closures, specialist coffee shops in Greece proved to be more resilient in 2023. This is…

Since mid-2022, inflationary pressures and the decline in disposable incomes have had an impact on Cannabis product consumption in Greece. On the one hand, the cost of living crisis is taking its toll on consumer spending on Cannabis products. These…

Compared to the European average, sugar free products have a very high share of Carbonates in Greece, and penetration is still growing. Sugar free is strong in Cola, while other soft drink options have strong room for growth, and both domestic and…

There has been a growing demand for high-quality customer service when owners go shopping for their cats, with people increasingly looking for treatments and services as well as food and products for their beloved pets. Pet City, which is the leading…

During the COVID-19 pandemic of 2020-2021, commercial charge cards experienced a significant downturn in sales. The lockdowns, decline in tourism (a key driver of the Greek economy), general reduction in business activities, and restrictions on…

Across the review period, innovation was strong on the cheese category. Until recently, Greek law mandated the pasteurisation of milk for health reasons. However, a new legislation framework across the review period allowed cheese production from raw…

Within apparel and footwear, childrenswear was the least affected by COVID-19 and lockdowns, so the high growth recovery rates seen in apparel for adults are not as evident in childrenswear in 2023. Widespread and ongoing economic uncertainty is…

Oats have emerged as an increasingly popular ingredient in chocolate confectionery among Greek consumers. Violanta, a player active in both sweet biscuits and chocolate confectionery, has capitalised on this trend by diversifying its product range…

As the appeal of cider/perry in Greece remained limited among the domestic population, the category’s performance was fairly flat in 2023, with only a marginal drop in total volume sales. Retail volume sales dropped moderately while on-trade volume…

Retail volume sales of cigarettes in Greece posted a decline in 2023, following the sluggish performance of the previous year. This occurred within the context of rising levels of health awareness in the country, which had a negative impact on…

The market for cigars, cigarillos and smoking tobacco in Greece saw a decline in volume sales in 2023, continuing the trend of the previous year. While the largest product area, fine cut tobacco, has proved to be more resilient than cigarettes,…

The price of coffee has increased in both the off and on trade, leading more consumers to replace takeaway coffee with their home creations. While a significant part of the Greek population would have a takeaway coffee daily, the decline in…

As the category hardest hit by COVID-19 due to the closure of department stores and beauty specialist retailers, limited social occasions and mask-wearing, colour cosmetics recorded current value growth in Greece in 2023 but has still yet to return…

The commodities country overview provides comprehensive data on production, consumption and price trends on key commodities markets. The commodities overview in Greece covers production and consumption trends in agricultural commodities, energy…

Computers and peripherals are expected to be the worst performing consumer electronic in 2023, with double-digit volume decline. Part of the decline is related to surge in spending on computers and peripherals during the early days of the pandemic,…

There was a lack of developments and investment in the concentrates landscape in 2023, which negatively impacted performance. As a result, sales have continued to decline for another consecutive year. Concentrates is challenged by being viewed as a…

In 2019, Western European construction recorded output of USD4,588 billion despite a slight slowdown in major economies. The COVID-19 crisis in 2020 and related uncertainty led to residential and commercial construction contracting. Rising…

Following the recovery from COVID-19, in 2022, consumers moved spending towards services above goods, leading to a decline in sales of consumer appliances. In addition, spending on consumer appliances was heightened during the outbreak, with home…

In 2023, gross lending in the primary category of other personal lending is experiencing a slowdown in growth due to inflation and reduced disposable incomes. Rising prices, coupled with stagnant salaries, have instilled a sense of insecurity in…

The picture is expected to be bleak for consumer electronics in 2023, with overall volume sales expected to fall. Continuing economic uncertainty as a result of Russia’s invasion of Ukraine, the significant rise in inflation and tightening monetary…

2022 saw strong growth in inbound tourist flows for Greece, driven by lifted pandemic-related restrictions and the recovery of recreational travel. However, in 2023 there was a decline in inbound tourism, thanks partly to cost hikes in flights and…

Inflation continued to negatively impact consumer foodservice in Greece in 2023, yet to reach its peak in terms of effect. Lingering post-pandemic effects helped to curb drops in footfall despite huge declines in disposable incomes amid steep price…

Inflation is a key factor influencing the consumer health market in Greece, with price hikes being seen across most categories. Even though increases in prices vary by brand, most products have been subject to hikes. This has not had the same effect…

The growth of gross lending in consumer lending for 2023 is moderate and slower than what was anticipated a year ago. Factors such as surging inflation, an escalating energy crisis exacerbated by the Russian invasion of Ukraine (with its effects…

Convenience retailers witnessed growth in Greece in 2023 as more and more people visited their stores for their daily purchases. This trend started during the COVID-19 crisis, when consumers procured essential goods from nearby stores, and now it has…

Cooking ingredients and meals continues to battle with high prices in 2023, which are impacting consumer’s buying habits, although inflation is lower than in the previous year. Amid this improved economic climate, retail volume sales have made a…

In May 2022, Greece lifted all COVID-19 related regulations. This included the compulsory use of face masks and social distancing rules, and although use of face masks remains fairly high in Greece compared to other European countries, it appears…