‘Household basket’ launched

Economy
Fri, 4 Nov 2022 5:08 GMT
Supermarkets include mainly private-label products and small packages from name brands.
‘Household basket’ launched

The majority of supermarket chains in Greece have clearly aimed their so-called “household baskets” – i.e. their set of products protected from inflation – at very low incomes since they are dominated by private-label merchandise and not what the chains themselves consider premium.

Even in cases where branded products have been selected, some chains put very small packages in the basket, such as a 50-gram package of instant coffee, as the Development Ministry’s measure was launched on Wednesday. To a large extent that’s because supermarket chains – alongside the household basket – will continue with their special offers that each has already agreed on with its suppliers.

Consumers are advised to check not only the price per item but also per kilo or liter, displayed both on supermarket shelves and in the baskets posted on the e-katanalotis.gov.gr webpage.

The ministry appears satisfied with the implementation of the measure, supermarket chains are waiting to see its effectiveness and especially whether the measure bolsters sales, while consumers, who had expected discounts, were probably disappointed: This is because the majority of the products that were included in the baskets may have had the lowest price in their category, but were on sale largely at the same price as they were in previous days.

“From the first day of its implementation, the household basket, as I found out myself at all supermarket chains, offset the effects of one and, in many cases, two months’ inflation on the specific products. For consumers, much more for the most vulnerable, who choose the basket products, the benefit is great, as the offers are really very good and there is a wide variety,” Minister Adonis Georgiadis told Kathimerini.

“Our goal of providing a shelter for the incoming inflationary storm is achieved. I encourage all consumers to use the basket because the more they choose it, the greater the incentive for supermarkets to include more products with the lowest prices,” he added.

kathimerini

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