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& nbsp & nbspTheano Theiopoulou & nbsp; & nbsp;

The family budget of thousands of households passed the test of endurance this year for the purchase of goods for the Easter table and other related needs of the day, at a time when there is accuracy in prices by common confession but also a significant reduction in purchasing power of wages due to inflation (7.1% in March).

For two consecutive years, the market across the entire range of retail trade, from clothing and footwear, food and beverages, to home appliances, is under daily pressure, either due to pandemic restrictions or now supply problems. raw materials and imported inflation. With the retail trade on its feet, after the epidemiological situation improved, the energy crisis appeared, with the gratuitous shot being given by the Russian invasion of Ukraine, with all the consequences: rising commodity prices and energy.

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Andreas Papantoniou, Commercial Director of Papantontiou Supermarkets and the Executive Secretary of the Pancyprian Supermarket Association, Andreas Hatziadamou, express their views on the new habits of consumers in “F” as they are now in the most difficult circumstances. their markets and turn to “private label” products, looking for more economical solutions.

Conscious consumers

Mr. Papantoniou, commenting on whether the habits of consumers have changed during this period, due to the increase in prices, explains that “the recent price increases in consumer goods are due to the appreciation of several raw materials and the increase in energy and transport costs. I believe that the increased costs to the consumer would be much higher if there were no serious efforts to absorb part of this increase by all intermediaries in the supply chain, such as producers, importers, distributors and supermarkets. & nbsp; We also see, he notes “that the purchasing power of the consumer is gradually reduced. On the one hand we observe that the continuous increases in fuel and electricity, but also in all other goods, significantly increase the cost of living while on the other hand wages are not easy to increase, due to reduced turnover and accumulated losses. too many businesses due to the pandemic “.

Taking into account the above, Mr. Papantoniou concludes, “we notice that consumers are beginning to be much more careful and selective in their markets. In particular, we saw products that had a large price increase have reduced sales, compared to other products that had a more limited revaluation. This means that consumers are willing to change their preference for a brand or product as long as it satisfies them. In addition, we have seen many consumers choose to make mass purchases on specific products, for fear of new increases and shortages. “

Market numb

This year, many consumers, due to accuracy, buy the absolutely necessary and Mr. Papantoniou gives the image of the market. “In the run-up to Easter, the market is numb, although consumers usually wait until the last minute to do their big shopping. We notice that the intense competition between the supermarkets has kept at a fairly low level the prices of all the necessary products of the time and this will help the pocket of the consumer. Sure, if it were not for the problems we mentioned above, the markets would be much bigger but I believe that the Cypriot consumer will spend enough to enjoy the Easter holidays. Let us not forget that for the last two years we have not been able to celebrate as we wanted, due to the pandemic and the restrictive measures that were in force “.

Consumer shift

The director of Papantoniou supermarkets also describes the new habits of the consumers, as a consequence of the increases. “Recent research has shown that when there is inflation, consumers' shopping habits change and the search for more value in the markets becomes a primary goal. We see that now they compare before buying something and try to choose the most economical option. This is the logical consequence of increasing the cost of living and reducing the purchasing power. Therefore, there is a tendency for the consumer to turn to the products that are offered, as well as to private label products. Taking into account the above, our company is constantly investing and developing quality and economical solutions, since we have on the shelves of our stores over 4000 products of private label or exclusive import. These products give the consumer the ideal choice that combines competitive prices and excellent quality “.

The Cypriot way of life

The image that the business world wants to project is that of modest optimism that despite rising prices and declining purchasing power due to inflation, consumers will be able to get everything they need from the Easter table, even in smaller quantities. . The executive secretary of the Pancyprian Supermarkets Association, Andreas Hatziadamou, tells “F” that “in terms of the Easter table and in general for each festive table, Cypriots do not differ much and this can be seen all these years. Our experience in the market and through other crises we have gone through in the past shows this. No matter how many problems and difficult circumstances we face from time to time, the Cypriot or if you want the attitude of the Cypriot consumer in terms of how he spends the holidays traditionally with his family and his festive table remains the same. He may limit his purchases to some other products but in terms of the festive table and his family gathering during the holidays he does not want to miss anything. This seems to be happening this year as well. “

Private label is an antidote to the crisis

The new habits of consumer purchasing preference are private label products, ie non-branded products, mainly due to the fact that they have lower prices and become more attractive for shopping. But it is not just the no name products that consumers are chasing. Mr. Hatziadamou states that consumers turn to products that are on offer or have discounts. “Consumers for several years, I would say from the financial crisis of 2013, began to choose and turn to products that have discounts and offers. They started comparing prices and visiting more than one supermarket in order to complete their purchases and take advantage of the supermarket offers. They also began to trust products beyond the recognized brands, as well as private label products. “Year after year, sales have begun to balance between branded and lesser-known products.”

There is also optimism

The question is whether there will continue to be a shortage of products and what the consequences will be of the Russian – & nbsp; Ukrainian crisis. At the moment, there are no problems in supplying the market, nor have any shortages been observed as a result of the war, notes Mr. Hatziadamou. “Our assessment is that there will be none in the future. The supply and supply chain has shown over the years, especially in the food sector, that it can withstand and operate under any adverse conditions, with the best example being the recent pandemic and beyond. That is the assessment of the European Union itself. “

Delays preceded the war

Mr Papantoniou clarified that “problems in the supply chain, such as shortages of products from specific sources and dramatic delays in transport, preceded the Russo-Ukrainian war, due to the pandemic and the UK's exit from the European Union. The war has made the situation even more difficult, as the countries involved play an important role in world trade. Indicatively, Ukraine and Russia have a share of 75% of world exports of sunflower oil and 28% of world exports of wheat. On the one hand, the war in Ukraine has paralyzed all the country's exports, and on the other hand, the sanctions imposed by Western countries on Russia have caused large trade gaps. All of the above make the process of importing raw materials and ready-made consumer goods very complicated and that is why there are some temporary shortages of products “.

Nobody knows how things will turn out with the supply But what about supplying the market with flour and sunflower seeds, two products for which Russia and Ukraine have an export tradition, or whether there will be shortages on the supermarket shelves or if there are any thoughts? to put a ceiling on the purchase of some products, as happened in other countries?

“As long as the war in Ukraine continues, no one knows how things will turn out,” Papantoniou said. “I believe that if the war continues for months, there is a serious possibility that there will be shortages, at least until world trade finds alternative sources for these products. We have seen supermarket chains in countries such as Greece and Italy set a maximum number of pieces in products such as flour, sunflower oil and sugar. At the moment, there is no decision to impose a ceiling on any product, but we are following the developments and in cooperation with our suppliers we will take the appropriate measures, with a view to protecting and serving all consumers “, notes the director of Papantoniou supermarkets.

” Our assessment is that even if the Russian-Ukrainian crisis continues, we will not have a problem with the supply of flour and sunflower oil because there are enough stocks “, notes Mr. Hatziadamou. “These stocks can be the bridge to find other markets and alternatives from various other countries. Already, both from individuals and from the Government, from what we have been informed, they are moving in this direction. Precisely for these reasons but also for many others we believe that there is no reason and no need for a ceiling on any products. We are confident that the supply and feedback will continue uninterrupted and uninterrupted. “

Source: www.philenews.com

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