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Greek super markets’ turnover to continue sliding in 2017

24/03/2017 Top Stories
Greek super markets’ turnover to continue sliding in 2017

Turnover in the important Greek super market sector is forecast to continue a downward trend in 2017, according to the Greek subsidiary of the IRI market research firm, which points to an average loss of turnover reaching 3.6 percent.

IRI executives in Athens on Wednesday said decreased turnover for the sector, which includes super markets, discount markets and cash&carry outlets, is forecast to range anywhere from -2.9 percent, compared to 2016, to -4.4 percent.

The wholesale sector, moreover is expected to stabilize turnover loss, with the expected drop projected at 0.6 percent, as opposed to the 1.6-percent decrease in 2016, yoy.

In terms of the discount store sector, 2016’s year-on-year increase in turnover of 10.4 percent is expected to continue in 2017.

IRI said a forecast easing in the unemployment rate in Greece to 22 percent, compared to 23.5 percent for 2016, will — if realized — comprise a deciding factor in boosting the so-called fast-moving consumer goods (FMCG) or consumer packaged goods (CPG) category.

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