By Giorgos Lampiris
With a forecast for a turnover that will touch and probably exceed 400 million euros, the Market In chain is moving for 2022, which currently maintains 236 stores nationwide, while during the summer it also acquired the local chain “Hara” of Chios ( turnover of 15.2 million euros in 2020), with 9 stores in its portfolio. Market In’s investment plan for the near term is to create up to 10 new stores by the end of 2022 throughout Greece. chain mainly targets the geographical area of Northern Greece, while at the same time it is looking for new stores in the Cyclades islands and especially in Paros, Naxos and Andros.A few days ago it opened another store in Kato Patisia.
She is preparing her second darkstore in Sindos
The operation of its new darkstore located in Sindos, where it already maintains warehouses, is expected to begin soon, while in Athens it serves the needs of its online store through the privately owned exhibition center, MEC, located in Paiana. It should be noted that at the moment out of the total turnover of Market In, electronic sales correspond to 2%. The company in 2021 showed a growth in its sales by 6%, reaching 370 million euros.
Market In has a workforce of 4,000 people, with the chain said to be looking for new executives both from the open market and from within as it invests in the development of its people. It is noted that in this direction he maintains the Market In Academy, which is located in the area of Zografou in Attica. There, both company executives and market executives undertake to train the company’s staff through seminars that are held.
New acquisitions are also in the frame
As the same person admits, there will be no shortage of acquisitions from Market In’s strategy, which is in line with the wider course of the business in recent years combined with its organic growth. In this context, it is looking at acquiring smaller chains across the Territory.
The goal is bigger than the existing stores with an area of 500-600 sq.m.
With regard to the Economy franchise stores that exist in several neighborhoods, the same sources note that the goal is not to further develop the specific network of stores and, by extension, the franchise model that characterizes them. On the contrary, Market In has placed in the framework of its development the creation of larger stores of 500 to 600 square meters, than those it used to develop in the past, of the order of 300 to 400 square meters.
Another area that Market In is investing in is private label products. It already has two product lines labeled “Small Mountain Farms” and “Economy” with about 2,000 codes available in total. The “Mountain Farms” brand has exclusively food, while under the “Economy” label both food and non-food products are available. The supermarket chain also invests in the provision of additional discounts through its loyalty system, as in addition to the offer of 6 euros to be redeemed to its customers, it intends to increase the amount it will offer in the near future.
In addition, it is active in money transfers, in collaboration with SmartPay, offering its customers the possibility to transfer money in Greece or abroad, with Market In benefiting from the commission it collects through this specific process.
The focus is on dealing with energy costs
A key stake for Market In, as for all the chains active in organized retail and in the supermarket sector, is to successfully deal with the price explosion in the market. It is indeed characteristic that Market In, from where it had the obligation to pay a maximum of up to 700 thousand euros per year for electricity consumption before the crisis, today and in the midst of an energy crisis, this amount has almost doubled.