Retail

The Ministry of Development is considering imposing a limit on promotional actions by retailers through the definition of a maximum percentage of volume and value of a product that will be allowed to be sold under an offer regime, Kathimerini understands.

The prices of a minimum of 50 food products in the large retail chains that have joined the campaign of the Bulgarian Ministry of Economy and Industry will be lower from today - November 15. They will be branded with the "Affordable to You" (Достъпно за вас) logo.

Fast-moving consumer goods (FMCG) retail, excluding tobacco and alcohol, in Türkiye grew by 86 percent in the first eight months of 2023, a report by NielsenIQ has shown.

The news about Sklavenitis' plan to boost its presence in the Cypriot market appears to have been confirmed, according to the Cypriot edition of Kathimerini: It seems that the big Greek retail company is currently in talks with Papantoniou supermarkets about a potential merger.

Retail companies faced weaker demand in July, according to a survey conducted by the United Brands Association (BMD) among its members.

Some 47 percent of the companies which responded to the survey said their unit sales declined last month compared with June, while 12 percent said it remained unchanged.

Outrageous discounts are the first "mystery" in the Greek market, with supermarket chains successively advertising 50% off specific products. Are they selling below cost to drum up new custom? Probably, but then we see those same products going for half-price at every other supermarket. 

A hot summer and perhaps an even hotter fall is expected in the market of electrical and electronic devices after the decision of the British group Currys to put Kotsovolos, its subsidiary in Greece and Cyprus, up for sale.

Nike reported a drop in quarterly profits on June 30 despite higher sales due to the drag from increased costs and the liquidation of unwanted merchandise.

The sports giant reported profits $1.0 billion for the quarter ending May 31, down 28 percent from the year-ago period.

Revenues rose 5 percent to $12.8 billion.

The relentless rise of food prices is expected to be the biggest headache for the Development Ministry's new leadership.

The challenge is even greater as this Friday the much-touted Household Basket measure expires, as does the provision on the ceiling on profit margins for a range of essential commodities.

Theft from convenience stores in the U.K. reached record levels last year, according to a trade body, blaming criminal gangs and a cost-of-living crisis.

The Association of Convenience Stores (ACS), which represents 48,000 stores, said there were more than 1.1 million incidents in the last 12 months.