IELKA: Supermarket chains’ Investment amount to € 1.5 billion euros for the last five years
1.5 billion euros worth of investments have been made by supermarket chains over the past five years, according to analysed data regarding the Greek Supermarket Panorama 2013 – 2019.
Friday, December 13, 2019
The report is produced by the Retail Consumer Goods Research Institute (IELKA), but also based on estimates from companies not included in the sample. The investments mainly concern:
- Network development with new generation stores,
- Modernization of warehouses, distribution network, fleet of vehicles and other infrastructures
- Digital technologies and digital distribution channels,
- Implementation of sustainable development infrastructure,
- Upgrading existing stores to enhance the consumer experience and
- Human Resource Development and Training. According to IELKA, these investments lay the foundation for productivity growth, entry into new dynamic markets such as food-to-go, responding to emerging demands, and operating efficiently in the emerging digital environment.
Taking into account all the above, the investment in the coming years is expected to exceed € 250 million annually. Chain fixed assets increased by 18%. The supermarket chains’ fixed assets in Greece increased by about 18% over the last five years, which translates to an annual growth rate of about 3%. In 2018 the assets of the companies that legally are required to publish financial statements amounted to € 3.8 billion compared to € 3.3 billion in 2012. It is noteworthy that the depreciation of company assets reached a peak in 2018, exceeding 150 million euros.