The bakery sector is part of the broader food and beverage industry, where it continues to show high rates of growth in Greece, making it one of the healthiest sectors of the Greek economy.
The prospects for the bread and bakery market in Greece are positive for the coming years. Indeed, based on international trends, this sector, if it rapidly undergoes necessary restructuring and adapts to changing standards, could become one of the most significant growth poles of the Greek economy in the future. Factors expected to influence the further development of the sector are related to the production of a wide variety of high-quality products, emphasis on the quality, freshness, and hygiene of bread.
The sector of standardized bakery products is characterized by a high degree of concentration, leading to intense competition among businesses. The main product of businesses operating in this sector is bread, with four basic categories of products: Bread, Rusks, Biscuits, Croissants.
In general and depending on the product, it is a sector with inelastic demand, making it, from an investment perspective, a refuge during times of crises. Indeed, during periods of global economic recession, the food sector took a defensive stance and recorded significantly smaller losses compared to other economic sectors.
The demand for bakery products in the Greek market is mostly covered by domestically produced items, mainly due to the short shelf life of these products, which makes imports prohibitive.
The Greek and bread. Understanding the consumer.
Bread has been a staple food for humans for millennia, holding a significant position in people’s lives.
From the depths of history and prehistory, there is evidence of its crucial presence in the human diet. Today, the consumption of bread and various bakery products by Greek consumers is a daily occurrence. Particularly, bread is consumed daily and in various forms, accompanying meals or as snacks throughout the day. The properties of bread are multiple, and consumers characterize it as tasty, nutritious, convenient, affordable, and a food that can complement all meals.
The emotional functions of bread are also noteworthy, as many Greek consumers believe it completes the daily table, provides a sense of security that there will be something edible at home throughout the day, and ultimately is part of Greek tradition.
The bakery, as a point of sale, exists in every neighborhood and is part of the culture of Greeks, both emotionally and as a consumption habit. Criteria for Greek consumers’ satisfaction regarding bread and bakery points of sale include taste, freshness, quality, product availability at all hours, variety, cleanliness, organization of presentation areas, and the ability to visually access baking areas.
The ideal point of sale for bakery products for Greek consumers is a store where the scent of bread smacks of musk daily! It’s the store where the space and, most importantly, its products exude a sense of tradition, where the feeling of care is pervasive, and it offers consumers significant choices.