Spain’s Supermarkets Buck The Trend As Takings Increase By An Extra € 3.1 Billion During The Crisis.
Spain’s Mercadona and the rest of the supermarkets have reported an extra € 3.1 billion in sales due to the coronavirus crisis and restrictions.
Mercadona, Carrefour, Lidl, Eroski, DIA and the rest of medium-sized supermarkets and even neighbouring stores have been the greatest beneficiaries of the year 2020. Their sales have soared despite the fact that there have been virtually zero tourists visiting the country.
This figure is the latest data released from Nielsen, one of the main consulting firms in the Spanish distribution market, which estimates the turnover of the mass consumer sector at 95,000 million euros last year and represents 6.4% more sales.
These figures contrast with the results of the majority of supermarkets based in Spain, which will show results in 2020 with mostly double-digit increases, with some of them increasing their turnover by more than 20%. “The ones that have grown by only one digit in 2020 can say that it has not been a good year,” a manager of a food company said.
The collapse of the hospitality industry
The beverage category has been a good example of what happened last year. Supermarkets and hypermarkets have picked up a part of the economic debacle that has devastated the hospitality industry- drinks sales in bars and restaurants fell 44% last year while those in retail grew.
It is interesting to note that regions that are not tourist-dependant are those that are fairing the best, according to the date from Nielsen.
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