GREECE: Consumers turn to local soft drinks in crisis
Local soft drinks up, despite Greek downturn
Soft drinks consumers in Greece are abandoning multinational brands for local manufacturers during the country's economic crisis, a local firm has claimed.
Plato Marlafekas, marketing director of leading Greek soft drinks producer Loux told just-drinks today (8 July) that there has been a clear switch of demand to local brands, which have increased their market share.
Loux has reported a 20% increase in net sales during the first quarter of 2011. "Because of the crisis, people have realised they have to help local industry," said Marlafekas.
Greeec's soft drinks sector has seen value sales drop by 15-18% so far this year, with many multinationals offering cut-price deals on drinks. In September, a VAT increase from 13% to 23% is expected to hit the sector further.
Marlafekas said, however, that the industry will try to absorb part of this tax hike.
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