The Greeks also prove to be passionate when it comes to coffee consumption, with more than 8 out of 10, 84%, drinking it on a daily basis. Overall, even non-coffee drinkers make sure to have some at home, so 95% of consumers buy coffee.
This results, among other things, from the nationwide survey conducted by Kapa Research on behalf of the Hellenic Coffee Association outlining the profile of the Greek consumer.
So it’s no wonder that coffee is one of the three products (the other two are beer and soft drinks) in which big companies are vying for bigger shares of the market pie, and changing relationships are predicted.
In this context, Coca-Cola Tria Epsilon, the dominant soft drink company, aims to increase its market share in the coffee sector to 10% in Greece and in a few years to acquire leading shares. As the company has announced, the Italian brand Caffè Vergnano (which previously existed through a representative in Greece before the acquisition of 30% by Coca-Cola 3E) is already available at 100 points in the HORECA market and aims to reach 300 stores by the end of 2023 and 1,000 over three years.
In the coffee category, Coca-Cola 3E also has the Costa Coffee brand, which within two years has acquired a presence in 500 stores in the HORECA sector, while it is also distributed through supermarkets, with a market share of 5.5% in capsules and 8% in ground coffee 8%, aiming in both cases to reach 10% soon.
Half of those who state that they drink coffee daily, are… heavy drinkers, as they consume more than one coffee a day (2 or 3).
Even among those who do not drink coffee, which is only 5% of the respondents, most, 66%, make sure to supply their household.
For 73% of coffee drinkers, the coffee habit is stable and is not replaced by drinking another beverage such as tea or chamomile. This habit, especially outside the home, was not affected even by the changes and restrictions that the pandemic brought to daily lives.
It is characteristic that 53% of respondents have never thought of giving up coffee. However, 17% would do so for health reasons, 14% for financial reasons and 13% because coffee causes them insomnia.
Furthermore, for 38% of those who drink coffee, limiting its consumption at home, at work or outside the home, either for financial reasons or for other reasons, would automatically mean limiting their social interactions.
The reasons why Greeks say they drink coffee are also of interest: More than half, 55%, feel that it stimulates them, while more than 4 in 10 (42%) feel that it relaxes and rests them.
Where do Greeks drink the most coffee? According to the survey, 56% at home followed by the workplace and the last choice is a shop or take away.
Of those who will enjoy their coffee outside of home or work, 62% prefer to do it sitting down in a restaurant, while 33% prefer to take take it away.
Latest News
BoG Figures Confirm Banner Year for Greek Tourism in 2023
20.6 billion euros in related revenues topped the previous year’s figure by 16.5%
Piraeus Bank to Propose First Dividend in 16 Years
Piraeus Bank has forecast profits of roughly 900 million euros this year, rising to one billion euros next year
Eurostat: Inflation in Greece Eases to 3.2% in April; 2.4% in Eurozone
The rate of increase for food prices was up by 4.9% in April 2024, compared to 4.8% in the previous month
ELSTAT Feb. Retail Turnover Drops by 3.8%, Sales Volume Plummets by 9.8%
Additionally, the seasonally adjusted General Volume Index for Feb. 2024 experienced a 3.8% decrease compared to the previous month of the same year
Greek Buyers Lead Return to Vacation Home Market
In the last six months, Greeks have made a surge into the vacation home market, notably without relying on loans
NBG Receives BBB Investment Grade by DBRS
This makes NBG the first Greek bank to regain Investment grade status, nearly 15 years after the onset of the Greek financial crisis
Greek Gov. Budget: Primary Surplus 3bln in Q1 2024
Value Added Tax (VAT) revenues reached 5.876 billion euros, down by 16 million euros compared to the target
Athens’ Public Transport System Gets Green “Facelift”
The future of urban transport in Greece's capital city includes electrification, hydrogen, kinetic energy and even heighted security and monitoring through the use of drones
Athens Int’l Airport: 16.2% EBITDA Increase and 16.5% Passenger Growth in Q1 2024
Following the strong performance in the first quarter, the company revised its annual passenger traffic forecast for 2024 to 29.9 million passengers, a 6.3% increase (or roughly 1.8 million passengers) from 2023 levels.
Oxford Economics Report: Greek Economy is Just Below Risk Zone
However, the report points to a persistent challenge in the form of commercial credit risk, which remains high at 8 out of 10, ranking Greece 104th internationally