Poundland enters the Greek supermarket

A share of the Greek supermarket pie is set to take over the British low-cost chain Poundland.
The chain, which opens 300 stores a year in Central and Eastern Europe, is already looking for locations in Greece. The “bet” is high, market players say, recalling that similar efforts by European low-cost supermarket chains have not been successful in the past.

As the Financial Times says in their article, Poundland, which makes € 3.4 billion a year, is now turning its attention to markets where the trade in cheap products is less developed. In this context, it gives priority to Greece and Italy, as it aims to triple sales and profitability over the next decade.

The British chain will, in fact, try to achieve what other European low-cost chains have failed to do in the past, which, while beginning with high expectations, ultimately failed to “win” Greek consumers.

Notable are the cases of Spanish Dia and German ALDI, which opened stores in Greece, but were forced to close in the process. According to market spokesmen, the supermarket sector is highly competitive, recalling that in recent years there have been major rearrangements, even “disappearing” some signs from the retail map, such as Atlantic, Marinopoulos and Veropoulos.

According to the special issue “Panorama of the Greek Supermarket”, in the course of eight years, almost 41 large and small chains have disappeared from the retail map, while in 2008 there were 96 supermarket chains in Greece, the next one, that number was reduced to 55.

source – newsit.gr

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