Recent months have seen significant fluctuations in food prices in Cyprus, with some basic foodstuffs experiencing price increases of up to 61%, according to one news outlet in April. Despite this, the Cypriot statistics agency reported a 10.9% increase in value sales in the retail sector in March, with volumes up by 6.5%. In the food, drinks, and tobacco segment, sales were 11.6% higher in March compared to the same month last year, or 52.6% higher compared to the base year of 2015.
To give an overview of the top five supermarket retail chains in Cyprus, here is their most recent full-year turnover data as provided by Retail-Index (www.retail-index.com):
- Lidl: Operating 18 outlets in Cyprus as of 2020, this discounter reported a turnover of €122 million in the country.
- AlphaMega: A Cypriot-owned supermarket chain dating back to 1958, AlphaMega has 19 outlets across the island and reported a turnover of €117 million in 2020.
- Ermes: A department store chain operating several brands and banners, including Armani Exchange, ERA Department Store, Ermes, Navy & Green, Next, OVS, Springfield, Women’s Secret, and Zako (franchise). Ermes has 43 outlets across the island and an estimated turnover of €80 million in 2020.
- Papantoniou: Founded in 1987, this Cypriot retail chain operates nine outlets across the island and reported an estimated turnover of €98 million in 2019.
- Metro: Unrelated to the German cash-and-carry group of the same name, Metro has six supermarkets across Cyprus and had an estimated turnover of €70 million in 2020. The group was founded in 1982.