Greece Quarterly Beverage Tracker Report Q4 2013




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and what is changing?
According to KEPE (Centre of Planning and Economic Research), GDP is predicted to contract by 1.3% in Q4-13; a slight improvement compared to the 3.3% contraction registered in Q3-13. It is also predicted that by the end of Q2-14 GDP will remain stable.

What are the key drivers behind recent market changes?
The Greek government publicized the fact that it will achieve a small but real primary deficit for the first time after many decades. During this quarter, the government highlighted this achievement to gain some leverage during the negotiations with the Troika, which was pressing for more austerity measures, but also because Greece would take over the EU presidency in the beginning of 2014. According to the official government budget that was released in November, a primary deficit of 816 m is estimated for 2013 and 2.7 bn for 2014.

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 Q42013vs Q42012, together with provisional 2013volumes and latest 2014 forecasts

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 Q42013 vs Q42012, provisional 2013 volumes, moving annual totals (MAT) and latest 2014 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 flavors. Significant activity in the soft drinks industry is covered including recent new product introductions (detailing flavor, pack type, pack size, retail price and selected pack shots) and the latest industry news.

This quarters special focus is on Functional and Flavored Waters

Key Market Issues
The government avoided imposing new austerity measures, extended the 13% VAT on dining for 2014 and finally on 18 December, received then latest 1 bn installment from the Eurogroup.

Once again, unemployment among young people is among the highest in Europe. For aged15-24 years old, the rate reached 51.9%, while the rate for 25-34 years old reached 36.8%. The total number of unemployed reached 1,376,463 people.

PL brands performed below the market in most soft drinks categories, while they faced severe double-digit losses in energy drinks and iced/rtd tea drinks.

Real economy and consumption still very low, as is the spirit of the consumers.

Key Highlights
The first of a series of intermediate sales periods started in November that included a Sunday with open stores. This was a first for Greece and was perceived unexpectedly well by consumers -especially if we take into account that, according to ELSTAT, salaries in both public and private sector have fallen to 2006 levels within the last three years.

From official data that was released by SETE in December, major Greek airports for the first 11 months of 2013 showed an improvement of almost 11% over 2012. More specifically for Athens, recovery started in October and showed an increase in November of 18.18%, compared with that of 2012. Athens, for the first 11 months showed a 2.07% increase.

In November, Athens was selected by Coca-Cola as a center of interactive communications for citizens of South and Central Greece, while Nokia launched a new RandD center, again in Athens, creating 150 new jobs and bringing advanced know-how to the country.