NielsenIQ: How Islands Impact Retail Growth Trends in Greece
- Written by E.Tsiliopoulos
The grocery retail sector in Greece has been on a steady growth trajectory in recent years, with regional and island areas consistently showing the most pronounced development, experiencing double-digit growth rates as indicated in a relevant study by NielsenIQ.
More specifically, the study shows that while in 2023 the total market turnover increased by +9.3%, the corresponding percentage for Crete and the Ionian and Aegean Islands reached +12.9% and +14.0% respectively.
The Ionian and Aegean Islands, now part of NielsenIQ’s official market analysis, collectively contributed to an 8.4% increase in retail food sales, representing an average for the past year. Notably, during the summer months, their significance surged, peaking at 11.2% for the second half of 2023.
The islands play a pivotal role in driving growth for various product categories, especially during the summer. Notably, they significantly influence alcohol sales, exceeding regional averages for liqueurs, rum, ouzo, and tsipouro. Additionally, the islands contribute significantly to other categories like sunscreen and bottled water, with notable growth rates of +22.2% and +14.6% respectively.
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