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Top 5 Supermarket Retail Chains In Cyprus

By Steve Wynne-Jones
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Top 5 Supermarket Retail Chains In Cyprus

In December 2023, the Consumer Price Index (CPI) in Cyprus decreased by 1.22 units and reached 115.29, compared to 116.51 in November 2023, according to the Statistical Service of Cyprus.

In December 2023, inflation increased by 1.6%.

For the period January – December 2023, the CPI increased by 3.5%, compared to the corresponding period of the previous year. The largest changes were recorded in food and non-alcoholic beverages (7.7%).

Compared to the index of December 2022, the food and non-alcoholic beverages category (0.73) had the largest positive effect on the overall CPI.

Elsewhere, Cyprus reported the highest jump in GDP on a year-on-year basis in the European Union in the third quarter of 2023, seeing a 2.2% increase.


Here's an overview of the top five supermarket retail chains in Cyprus, according to their most recently-available full-year turnover. All data is supplied by Retail-Index (

1. Lidl
Turnover: €122 million (2020)

Discounter Lidl operates 18 outlets in Cyprus as of last year. The retailer, which is part of Schwarz Group, reported a turnover of €122 million in the country in 2020.

2. AlphaMega
Turnover: €117 million (2020)

AlphaMega is a Cypriot-owned supermarket chain that dates back to 1958. The company has 19 outlets across the island as of this year.

3. Ermes
Turnover: €80 million (2020, estimated)

Ermes is a Cypriot department store chain that operates several brands and banners, including Armani Exchange, ERA Department Store, Ermes, Navy & Green, Next, OVS, Springfield, Women's Secret, and Zako (franchise). The company has 43 outlets across the island, and reported an estimated turnover of €80 million in 2020.


4. Papantoniou
Turnover: €98 million (2019, estimated)

Papantoniou is a Cypriot retail chain that operates nine outlets across the island, and was founded in 1987. The group reported an estimated turnover of €98 million in 2019.

5. Metro
Turnover: €70 million (2020, estimated)

Unrelated to the German cash-and-carry group of the same name, Metro boasts six supermarkets across Cyprus, and had an estimated turnover of €70 million in 2020. The group was founded in 1982.

About Retail-Index

Retail-Index is a specialist supplier of management information on consumer retail markets, provided by Veraart Research Group in the Netherlands. Its mission is to supply managers with up-to-date key information on retail markets in Europe and support them in their international expansion.

The company dates back to 1964, when it started as a market research and marketing consulting company for consumer products and services. In 1989, it started publishing written reports on various retail sectors in Europe. As of 2005, it publishes its information on retailers through the online database and curated datasheet exports available on A team of researchers manages the data to reflect upon current developments in the markets, collected from an extensive number of sources.


Read More: Top 10 Supermarket Retail Chains in Greece

Read More: Top 10 Supermarket Retail Chains in Türkiye

© 2023 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.

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