TRENDS
Legislative changes introduced in Greece in 2015 altered the retailing environment and enable consumer foodservice outlets to be included or combined with retail outlets, especially grocery retailers outlets. Fast food is among the consumer foodservice channels influenced by this new legislation, particularly chained convenience stores fast food, which has started to emerge strongly due to the new situation. These new developments were implemented through new chains such as Today’s Delicious Stores, which combined two existing chains in Greece: Today’s Stores, present in convenience stores in retailing; and Todaylicious, a chained fast food operator. Other new businesses emerging due to the legislative changes include small chains of convenience stores that serve coffee and bakery products such as the Origami convenience stores chain in Thessaloniki, for instance.
COMPETITIVE LANDSCAPE
Gregory’s Microgevmata SA led fast food in 2015 with an 8% value share. The company operates in bakery products fast food, where it claimed the leading slot in 2015 with 22% of value sales. Gregory’s Microgevmata has benefited from the growing demand for bakery products fast food in general in Greece in recent years as well as the trend towards coffee as it was among the first fast food operators in Greece to place an emphasis on coffee in its menu and to include a special coffee-based section in its outlets. Gregory’s Microgevmata has managed to maintain its leading position and expand its value share through constant expansion of its outlet network into both urban and rural areas of Greece, along with frequent new product developments and significant marketing campaigns including media advertising, special offers, promotions at events and prize draws, among others.
PROSPECTS
Fast food is expected to see the emergence of new formats and new types of hybrid operations during the forecast period and these are likely to be based on the recent liberalisation of the rules relating to retail and consumer foodservice businesses in Greek legislation. In particular, the combination of grocery retailers outlets with fast food outlets is expected to drive developments and new concepts in the channel during the forecast period and new chains are expected to emerge. In addition, coffee is also expected to continue playing a significant role in developments in fast food during the forecast period, driving sales trends to some degree. An increasing number of businesses are expected to include coffee-based drinks and hot beverages in their menus while placing a special focus on the varieties and the quality of their coffee blends. What is more, as takeaway coffee is now becoming a major trend in Greece, fast food companies are likely to continue presenting strong competition to cafés/bars in the sale of coffee.
Source: www.euromonitor.com
