Supermarket executives expect a 0.7% increase in sales in the second half of 2020 compared with the corresponding period last year and a 0.8% increase throughout 2021, the Research Institute of Retail Consumer Goods IELKA said in a survey released on Tuesday.
More specificially, a 43% of respondents expect supermarket sales to rise during the second half of 2021, with a 21% expecting a decline. Sales are expected to rise by 0.7% in the July-December period compared with the same period last year and by 0.8% in 2021.
The forecast includes the Christmas period, which traditionally accounts for around 10% of annual sales. The survey recorded a reversal of a negative trend which prevailed in 2020, with a 57% of respondents saying the economic condition improved, while a 25% said the economic condition worsened.
The positive forecasts are based on four factors: improved tourist trends, a package of tax cuts announced by the government, an increase in e-sales and to a strong economic recovery. On the other hand, rising prices in hospitality and limitations in accessing supermarket stores have a negative impact. The survey was conducted on a sample of 160 supermarket executives in the period September 20-30.
SOURCE: AMNA
