Boston, MA -- (ReleaseWire) -- 07/07/2014 -- The recession has had a clear impact on the performance of health and beauty retailers in Greece. Consumers were forced to make cutbacks in most areas. Many consumers turned to cheaper health and beauty products and private label offerings where possible, with consumer trends shifting towards a value-for-money attitude.
The health and beauty specialist retailers environment in Greece is led by Hondos Bros, holding a 7% value share in 2012. The Hondos Center brand is the clear leader of beauty specialists, claiming 59% of value sales in that category. The chain is long-established and trusted in the market with an extensive network of stores across the country. The company has also benefited significantly from its constant discounting strategies, promotions and vouchers, particularly over the course of the recession as consumers cut down on spending.
Forecasts in the category are based on the assumption that the country will continue to be a member of the eurozone, following the economical outlines provided in the latest austerity measures programme. Despite some inclination away from the programme is possible, the general assumption is that the current and any new government will follow a route of austerity towards slow development and economic reformation. Expectations for recovery are overall quite gloomy either way. High unemployment and a shortage of income are the main two concerns for Greek consumers, while businesses continue to find unwelcoming conditions for investment in order for development rates to turn positive, and the market to return to growth.
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Discover the latest market trends and uncover sources of future market growth for the Health and Beauty Specialist Retailers industry in Greece with research from Euromonitor's team of in-country analysts.
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The Health and Beauty Specialist Retailers in Greece market research report includes:
- Analysis of key supply-side and demand trends
- Detailed market shares for international and locally-based retailers
- Historic number of stores, selling space and values, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent market research methodology, conducted in-country
Our market research reports answer questions such as:
- How big is the Health and Beauty Specialist Retailers channel in Greece?
- Who are the leading retailers in Greece?
- How is consumers' desire to look good and stay health driving sales for health and beauty specialists?
- How are health and beauty specialists' product mixes being adapted to consumers' changing shopping patterns?
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Product coverage: Beauty Specialist Retailers, Chemists/Pharmacies, Drugstores/Parapharmacies, Optical Goods Stores, Other Healthcare Specialist Retailers.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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