Greece Quarterly Beverage Tracker Report Q3 2013




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Product Synopsis

Published by Canadean, this Quarterly Beverage Tracker report provides a detailed analysis of the latest developments in the Greece beverage market

Introduction and Landscape

Why was the report written?

In the current climate of economic uncertainty and market volatility companies need to know about more than just data. This report provides a complete overview of all commercial beverage consumption trends, latest market developments and an economic mood indicator

What is the current market landscape and what is changing?

ACB levels fell in Q3-13, with only the dairy industry remaining stable. Although cider and packaged water volumes grew, these account for a marginal share of the industry total and thusly had little sway. 

What are the key drivers behind recent market changes?

The recession is gradually slowing down; GDP is still falling. Unemployment is the highest in the EU, while inflation is the lowest in the Eurozone. Tourism growth confirms its vital role in reducing the 2013 recession levels.

What makes this report unique and essential to read?

Designed for clients who want to understand the latest trends in the Greece beverage industry and want more detail and analysis on this data. Canadean's Greece Quarterly Beverage Tracker report is ideal for benchmarking total market vs retail audit data and is an essential tool for keeping up-to-date with the latest industry and market developments

Key Features and Benefits

  • Readers are provided with a summary snap shot table showing category growth in Q32013 vs Q32012, together with 2012 actual volumes, 2013 forecast volumes and projected growth
  • An economic mood indicator, completed by Canadean's local consultant, examines (on a scale of one to five) whether confidence levels in the industry are better or worse than the previous quarter, whether net prices are rising or falling and how Private Label products have performed versus the rest of the market. Selected retail pricing data is given for the most recent quarter and the previous four quarters, enabling analysis of price movements. 
  • Key highlights of the last quarter's commercial beverage performance are identified and the key market drivers examined
  • Volumes for Q32013 vs Q32012, full year 2012, moving annual totals (MAT) and 2013 forecasts are provided for each individual beverage category, together with supporting text on quarterly performance and forecast assumptions. More granular data is provided for the Carbonates category, with data split by regular vs low calorie, and by key flavours. Significant activity in the soft drinks industry is covered including recent new product introductions (detailing flavour, pack type, pack size, retail price and selected pack shots) and the latest industry news.
  • Focus on Functional Soft Drinks and Healthy Innovation

Key Market Issues

  • The GDP for Q3-13 is predicted to decline by 3.4% according to reports from KEPE (Centre of Planning and Economic Research). This represents a further decline from Q2-13, at -4.6%.
  • The first tax reduction, since the beginning of the debt crisis in Greece, took place in Q3-13. The long-awaited reduction of VAT in on-premise outlets was implemented as a trial measure, beginning on 1 August (until the end of the year). VAT was reduced from 23% to 13%, but it concerns only on-premise outlets and excludes alcoholic drinks and take-away or delivery services.
  • Negotiations over various commitments of the government have started and involve a series of actions; the mobility program for 25,000 public servants and the dismissal of another 4,000 by the end of the year, the restructuring of public companies -namely ELBO, EAS and LARKO (on this matter, common ground between the Troika and the government seems to have been found) and the delay of further privatization.
  • Long-term unemployment has more than quadrupled since Q2-09 (190,000) to Q2-13 (903,000), reaching 66.8% of those unemployed. That means that two out of three unemployed people are long-term unemployed.
  • The total number of tourist arrivals is expected to reach approximately 17.5 m in 2013, giving 11.5 bn in direct income; that is an increase over the 10 bn recorded in 2012.

Key Highlights

  • Nevertheless, there is an interesting observation that seems to have influenced beverage consumption: as the summer of 2012 was the warmest summer in Greece for the last 116 years, the general perception of the public is that this year's summer temperatures were below average.
  • Filter systems which produce cool or ambient still or carbonated water are posing an increasing threat to bulk/HOD water companies. Although still in their infancy, home filters are in line with two significant consumer trends: the desire to save money and concern for the environment, through the reduction in transport emissions.
  • Squash/syrups declined by just under 12% in Q3-13, due to competition from other ready to drink fruit-based categories that offer a healthier image and greater convenience, together with reduced prices from major players.
  • Beer remains a more affordable alcoholic proposal, while at the same time it is perceived as a safe and more natural product which can be consumed at more occasions during the day. Thus, it is expected to remain a preferred option for Greek consumers, who look for ways to reduce their spending when going out.
  • The flavored milk category declined by 8% in Q3-13. As flavoured milk is mainly targeted at children and teenagers via the impulse channel, it is often replaced by lower-cost, healthier refreshments within the summer period.