The four government measures to address accuracy and stimulate healthy competition throughout the supply chain came into force yesterday.
As the Ministry of Development notes, the measures guide the suppliers to reduce by 30% the offers to retail companies (supermarkets), with the obligation to reduce the list prices of more than 3,000 products by the same amount.
Categories include; general cleaning products (laundry detergents, dish detergents, surface cleaners of all kinds, bleaches) and personal hygiene products (shampoo and conditioner, shower gels, soaps, toothpastes, baby and children’s diapers) with price reductions from 12.7% to 18.1%.
The market responded positively in the above measures, but he points out that there will be a clear performance over time and even more slowly in the food category.
Haris Andrikopoulos
Haris Andrikopoulos, managing director of the S/M Andrikopoulos group, said in this regard to “Peloponnisos” the following: “We should explain to consumers that the intervention of the Ministry of Development aims at price transparency and mainly concerns the suppliers of the products. I am referring to the four new measures, a) for baby milk, b) fresh products, c) the prohibition of offers when there has been a price list revaluation of the supplier and finally d) the reduction of the initial price for products of the 3 non-food categories.
I point out that the last measure does not concern food and it should be made clear that suppliers are obliged to reduce the initial prices by correspondingly reducing the percentage of the offer. Practically this means, from the moment the greater percentage of these products is sold on a promotional basis and the reductions concern the initial prices, that the consumer will see small final price reductions (with offer) on the shelf in some products, depending on the policy of each supplier.
All of them, of course measures are judged correct, because they regulate market issues so that we have clearer prices and it remains to be seen in the long run their positive, I hope, effect on the price level”.
George Roumeliotis
On the other hand, George Roumeliotis, president and CEO of the S/M Roumeliotis groupadded the following: “The impact of the Ministry of Development’s announcements is an important first move to curb inflationary trends disproportionate to incomes, of the difficult situation in which Greek households find themselves today, due to the continuous price increases in all product categories. The first samples of the measures show that they are having an impact in real time.”
Referring to the food category and what are the market forecasts for their prices, Mr. Roumeliotis said: “I consider that rising inflation has diversified consumption habits. Consumers show their preference for private label products as branded products tend to be more expensive even if they come with discounts or promotions. Understandably the pressure in the food category is greater and more intense as the feeling of survival is now visible. In the next period in the food category, we expect a de-escalation of prices”.
Finally, Mr. Roumeliotis emphasized that the group has a strict orientation towards meeting the needs of the consumer and tries in various ways to stand by him, maintaining high quality and reducing prices. And it is indicative that in stores, throughout the month, consumers can find promotions on approximately 6,000 codes.
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