Supermarket sector set for restructuring
The 9.7% annual increase in supermarket turnover in 2020 - amounting to additional revenues of more than 1 billion euros - is set to drive changes in the retail landscape in Greece.
The rise in turnover - even though profit growth won't be as impressive due to the increase in operating expenses last year - is expected to lead to internal market restructuring in the medium term. This is because some players are emerging stronger from the first year of the pandemic and are set to strengthen their position further by implementing acquisitions in the medium term.
It is no coincidence the sector, which, compared to the rest of Europe, has a low degree of concentration, now finds itself on the radar of investment funds such as CVC Capital Partners.
At the same time the evolution of supermarkets into department stores will also attract more shoppers, while at the same...