Two Thirds Of Greek Consumers Loyal To Branded Products, Study Finds
A new study by IELKA, the Greek Institute of Retail Consumer Goods, has found that two thirds of Greek consumers say that they are 'loyal' to branded products, due to the high levels of promotion among A-brand suppliers.
The study, which surveyed 2,000 consumers across Greece, found that while Greek consumers are buying more private label products, shoppers still tend to opt for big brand names when available.
In fact, the value share of private label in Greece, according to Nielsen data, was 25.3% last year, compared to 25.9% in 2016. This compares to percentages of around 40% to 50% in countries such as Germany, the UK and Switzerland.
The study found that 62% of Greek consumers say that branded products are of 'better quality', while half of respondents say that it is 'always better' to buy branded products.
At the same time, 57% of respondents say that they would prefer to see more special offers when shopping, and that branded suppliers have been active in seeking to meet that demand.
Perceptions about private label have improved, however, with 58% of respondents considering private label products to be of as high quality as the corresponding branded products.
This, IELKA says, is due to supermarket chains working more with local suppliers on the development of their private label ranges, in oder to develop products with a distinct local or Greek identity.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.