Since Monday, July 27 companies' binding proposals for participation in the National Initiative begin price de-escalation, which provides for reductions of 5%-20% in basic products on the shelves of supermarket since 31 August.
According to the timetable established by the Independent Consumer Market Control and Protection Authority (AEA&PC), businesses will submit their proposals per product code (barcode), which will be assessed on 28 July, while on 29 July the supermarket chains will be notified of the codes that will join the initiative. The process will be completed on 3 August with the submission of final proposals.
The initiative provides for actual reductions in normal shelf prices rather than offers or other promotional actions, while the normal price of each product will be taken on 27 August. The implementation of the programme will begin on 31 August and will run until 31 December 2026.
It is recalled that the initiative started with a meeting under Prime Minister Kyriakos Mitsotakis at Maximos Palace in late June and specialized in a new meeting under the Minister of Development Takis Theodorikos with the participation of representatives of industry, suppliers and organised retailers.
The call for participation sent by AEA&PK to the producer and commercial operators provides that the reductions will concern normal shelf prices rather than temporary offers or promotional actions. The reference price will be the normal price of each product on 27 August, and any subsequent offer will be calculated on the new, reduced price.
High priority categories include fresh meat, dairy, eggs, pasta, legumes, flour, oils, infant milk and diapers, breakfast items, soft drinks, detergents, personal hygiene products and school items. The Authority notes that the participation should concern products of high commercial importance rather than limited traffic.
Undertakings will provide detailed information on each product per barcode, including the existing and new price, the reduction rate and the duration of its application. The products to be included in the initiative should remain in it for at least two months.
At the same time, consumers will be able to be informed about the products involved through a special section on the PosoKanei platform, while in shops there will be a single label on the shelves for easy identification.
The AEA&PC has provided for 16 competition protection loopholes, prohibiting any exchange of information between competing undertakings on prices, percentages of reductions, costs or commercial strategy. As he points out, the success of the initiative will be judged by the real benefit that will reach Greek households through substantial and sustainable reductions in commodity prices.
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