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Consolidation trend in supermarket sector to continue in 2017

A consolidation trend in the domestic supermarket sector will continue in 2017, Vasilis Korkidis, president of Hellenic Confederation of Commerce and Entrepreneurship (ESEE) said.

Addressing a forum on the supermarket sector, Korkidis said: "It is important that Marinopoulos group avoided bankruptcy at the last minute and that 12,500 job positions were saved, but equally important was to ensure that thousands of small suppliers of the supermarket company would be saved as well."
 He added that the retail commerce sector was characterized by the collapse of Marinopoulos SA and the fact that all other companies in the sector, large and small, shared the company's sales. Korkidis noted that these developments could continue in 2017.
 The supermarket sector is one of the most dynamic sector of the Greek economy. In the 2010-2016 period, the domestic market recorded negative growth rates, after a decade of positive growth, with the last six years the sector recording an average contraction rate of -2.4 pct despite a positive growth rate recorded in 2014.