How much more expensive will the Christmas table be this year
Increased by 5% is the average price for Christmas table in large supermarket chains in 2021 compared to 2020, according to the Consumer Research Research Institute (IELKA).
The IELKA study presents the results of product price surveys in large supermarket chains in Greece in December 2021. their estimation-forecast for the prices for the week until Christmas (something like this is necessary as in certain fresh products the prices are constantly differentiated ).
The research concerns 22 typical product categories included in the Christmas table (eg chocolate chip cookies, melomakarona, king pie, turkey, lamb, chestnuts, eggs, potatoes, etc.).
According to the findings of the study, the prices of the typical Christmas table products in large Super Market in 2021 are increased by 5% on average compared to 2020, while they are increased by 1% compared to the highest price recorded in 2015. Specifically, the standard basket is estimated at 86.18 euros in 2021 against 81.81 euros in 2020.
It is noted that in recent years there are significant great offers in large supermarket chains that give the consumer the opportunity to choose and save on average about 13% of the value of his purchases while with smart purchases the savings can reach even 21% of the value of the basket.
The wide range of prices recorded annually, according to IELKA, in the increase of competition intensity each and especially in the last five years between the companies in the sector and in the adaptation of the products of the sector to the need of the consumers for reduced prices. and value for money recorded in the last six months.
What products have caught fire?
Of the 22 product subcategories examined, the largest increase is recorded in its price lamb by 24%, whose price remains higher than Easter and thereafter with the terms of the offer and the requirements have not changed until then.
Conversely, the largest decrease is recorded in its price tomato by 25% due to favorable weather conditions. In relation to the price range to which the consumer has access, the average fluctuation of product prices remains increased and is estimated at about 35-38% of their value.
This trend is also a result of the intense offers and promotional discounts of the large supermarket chains and suppliers, which are now taking various forms.
Overall it is estimated that this Christmas is over 1 in 2 products to be purchased are related to some promotional energy, such as discounts on specific products, discounts on specific categories, offer of additional product (eg 2 + 1 gift), discount coupons, gift vouchers for next purchases, refund using credit cards.
Price increases are expected as for several months now inflationary pressures have been recorded which are mainly imported. The international food commodities price index remains significantly higher than before the COVID-19 pandemic.
All individual indicators show raises (cereals, oils, meat, dairy, sugar) with larger increases than these to be recorded in vegetable oils and cereals.
The increases are mainly due to the production output in the major producing countries and the increase in demand from Asian countries. Several of these changes affect food production in Greece due to the import of raw materials, but also the import of final food and beverages from international markets.
A significant part of the increase in raw material prices seems to have a significant part of the intermediate nodes of the production and distribution chain, producers, processors, suppliers and retail in Greece, something that was practically impossible to continue, not all companies have grown. costs due to the ongoing pandemic in the country.
High VAT rates are also a major obstacle to managing prices at lower levels.