A significant decrease of 13% has been recorded in the amount Greek households spend for daily purchases at the country’s supermarkets. This is the logical consequence caused by low wages, high unemployment rates and increased direct and indirect taxes. Factors that have lead to impoverishment of large groups of the Greek society. Worth mentioning are the extra charges (special consumption fees) imposed as of 1.1.2017 in a variety of supermarket products like coffee.
Greek households spend monthly forty euros less for their shopping at the supermarket than in the previous year. The average monthly expenditure of households at the supermarket amounts to 274 euros from 310 last year.
According to research conducted by the Economic University of Athens, the expenditure decrease has been confirmed also by the turnover of the supermarkets.
Τhe decreased in sales was 10 percent in January 2017. The was a slight increase of 2.9 percent in February, but a serious decline of 15 percent in March.
63% of respondents said they buy fewer products
45.8% said they restricted to what is necessary
At the same time, 54.4% said that buy cheaper products especially following a market investigation and that they chase discount offers and products of private label.
81.5% said that they compare prices before they decide which product they will pick up from the supermarket shelf.
99.2% of consumers stated that they do research before going to the supermarket, they know in advance what to buy and they avoid impulse purchases.
38% of respondents said that they would make fewer purchases in 2017, 5% that they will increase their purchases. 57% estimate that their purchases will remain unchanged.
The average expenditure per supermarket visit remains almost unchanged. Expenditure in 2017 is at an average of 50.4 euros. It was at 49.5 euros in 2016.
However, the frequency of visits has declined down to 6.8 visits per month from 8.5 visits last year.
PS This must be the frugality Schaeuble was dreaming of day and night.