Main characteristics of the period
- The Covid-19 pandemic continued in 2021 as well. The application of restrictive measures in Greece continued to be active. However, the year started with a considerable lowered domestic consumption, as households stopped stockpiling products in response to the global pandemic. Stockpiling behavior has been strongly demonstrated during year 2020.
- Greece managed in 2021 to recover more than half of pre-pandemic levels tourism revenues. However, the surge of tourism kicked in later in the year adding further pressure in total demand, especially in the first months of the period.
E.I.Papadopoulos S.A continued to implement a targeted action plan versus above described macroeconomic challenges, in order to ensure avoiding unpleasant consequences. Targeted sales promotions and development of new products resulted in improved market shares and satisfactory sales levels, not only compared to those of last year but to pre-covid times.
More specifically in 2021:
Caprice had its best year yet, due to the launch of the new 30% less sugar product code.
Choco coated biscuits, Oat biscuits, Cream Crackers and the new line extensions in the “No added sugar / with less sugar” category, showed significant development.
Digestive Bars increased market shares albeit high competition.
In the Bread category, we had new launches in the “gluten free” sub-category. German type bread continued growing further.
Traditional Rusks scored high in their category along with Krispies and Breadsticks, with the addition of the Carob extensions.
Among management continues goal for E.I.Papadopoulos S.A, is to expand its international presence and despite of challenges the company was consistent with its strategy. As a result, our company is now present in 61 countries worldwide, constantly increasing its international sales.