Greek Inflation hits online supermarkets too

Inflation in Greece has hit online supermarkets too, a new survey has revealed.

Similar to the trend in physical supermarkets, online supermarket basket is shrinking as price increases force consumers to order fewer products, the Kathimerini newspaper reported on Saturday, citing a recent survey by Convert Group.

Hence, the share of private label products is increasing.

According to the survey, the turnover of online supermarkets in the first quarter of 2023 was €76 million ($85 million), 10% more than the first quarter of 2022.

However, it pointed out, this increase was mainly caused by the price increases, noting that the number of products that consumers purchase is on a decline.

“Compared to last year, the number of items in the average basket decreased in January-March 2023 by 10%,” it said.