The management of the popular supermarket chain Lidl Greece is doing everything possible to maintain its leading role in the category of promotion of private labels, which have become very popular due to inflation.
One of the few reportedly true discount supermarket chains in Greece has announced that it “continues to continuously reduce prices by up to 35% on more than 160 products”. As early as 2022, a wave of price hikes has led a significant portion of consumers to switch to private label products, bringing their market share to levels that they had during the deep recession years.
According to research firm Circana (formerly IRI), the market share of private label products, excluding Lidl, was 16.3% compared to 14.8% in 2021, reaching the level of 2017. According to NielsenIQ, the market share of merchandise private labels, including Lidl, was 23.8% in 2022, and by February 2023 it had already jumped to 25.2%.
The move by Lidl is also important from a “right time” perspective, as it is far from a coincidence that the company decided to go ahead and advertise permanent price cuts about a month before the much-discussed “household basket” expires. The company, among other things, claims that, according to studies it conducts on a regular basis, more than 200 essential items are at least 10% cheaper than other supermarkets.
The goal of the German supermarket chain Lidl is to maintain its leading position in the private label category.
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