Bottled Water in Greece

2020 IMPACT

Foodservice closures lead to dramatic losses in bottled water

The impact of foodservice closures during the COVID-19 will be particularly dramatic in bottled water in Greece. Overall bottled water is expected to decrease in 2020 as off-trade growth is not expected to adequately compensate for the on-trade losses.

Travel restrictions reduce sales to tourists

In many years during the review period, tourism accounted for over a fifth of bottled water consumption in Greece. Border closures will, therefore, have a considerable negative impact on sales of bottled water in 2020, as tourism has been severely affected by the COVID-19 crisis.

Flavoured bottled water continues to expand as new products enter the mix

Following the successful introduction of a number of flavoured bottled water products in 2019, product innovation and development in bottled water is expected to focus on flavoured bottle water products in 2020. Companies have continued to focus their attentions on flavoured bottled water in 2020 as consumer awareness of options in this product area continues to grow.

RECOVERY AND OPPORTUNITIES

The economic effects of COVID-19 to outlast restrictions in Greece

The impact of COVID-19 and of the anticipated reduced presence of tourism in Greece is expected to be dramatic, and the economic effects of these losses will continue to affect the country in the forecast period. Job losses are expected to last as the country enters the forecast period, and this will result in a reduction in disposable incomes.

Tourism will be slow to recover

As COVID-19 restrictions come to an end in Greece and other countries around the world, the flow of tourists into the country is expected to increase once more. As such, on-trade volume sales will begin to recover at the very beginning of the forecast period, with significant annual growth expected in 2021.

Consumers return to pre-COVID-19 buying habits, leading to uptick in impulse buying

Consumers in Greece are expected to return to their pre-COVID-19 buying habits in 2021 as the restrictions and home seclusion of national lockdown measures come to an end. Although the loss of impulse sales is expected to lead to a loss in off-trade volume sales in 2020, these sales are expected to be recovered in the forecast period as restrictions come to an end and consumers will be able to go out more and, therefore, be more likely to make impulse purchases.