How will businesses cultivate a positive outlook in the market?

Concerns about the rising cost of living (64%) and personal finances (56%) remain dominant, but both have eased compared to last year (69% and 63%, respectively). At the same time, two out of five consumers continue to feel concerned about their physical and mental health. This year, for the first time, several indicators reflecting the impact of financial pressure on consumption are also improving: fewer respondents report difficulty making purchases due to rising costs (51%, down from 59% in 2024), purchasing only the essentials (43%, down from 50%), or struggling to cover basic expenses such as food, healthcare, and housing (15%, down from 21%).

A high, yet decreasing compared to previous years, share of consumers, say they plan to reduce their spending across most categories over the next four months. However, the percentage of those intending to increase their spending appears to be rising across all product categories surveyed.

At the same time – and first during the five years the survey is conducted in Greece – more consumers expect their financial situation to improve over the next 12 months (27%, up from 22% last year) than those that expect it to worsen (25%, down from 29%).

Greek consumer shopping habits

Omnichannel behavior continues to gain ground, as the combined use of physical stores and online channels opens up more choices. The majority of consumers do their research before making a purchase, and physical stores remain dominant in most categories – both for research and final purchase – while the fully digital journey (research and purchase exclusively online) remains at around 10% on average.

Retailer and product selection criteria, and reasons to switch brands

Price remains the primary criterion for choosing a retailer, followed by discounts/promotions and a convenient location. When selecting products, however, consumers evaluate a broader set of factors that define “value”, such as price, quality, health benefits, availability, and the brand.

As observed in previous editions, the tendency to switch brands remains strong. Price is the main driver, but consumers also report being open to trying new brands, or are finding new brands more impressive, while they often do not see a real difference in quality. They also switch brands when their preferred option is not available at hand and they do not want to wait or shop around – and, to a lesser extent, when a brand doesn’t align with their values anymore.

The search for “value for money”

To maximize value from their purchases, consumers opt for cheaper brands of similar quality (43%), buy from discount retailers or grocery stores and super markets (41%), wait for items to go on sale (37%), switch to private label items or store brand options (36%), join loyalty programs or reward schemes (35%), and purchase in bulk when items are on sale or discounted (34%). Faced with higher prices, most consumers choose cheaper alternatives; lesser segments buy a smaller quantity or opt for smaller package size, while about one in ten stops purchasing the product altogether.

The shift toward private label products continues; albeit at a slower pace. In 2025, 26% of respondents said they were buying more private label products, down from 37% in 2024 and 38% in 2023. Seventy percent said they were now buying branded products only when on sale or discount, while 39% said they do not intend to go back to branded products in categories where they have switched to private label. However, 31% tried private label options but switched back to branded options. Meanwhile, 79% noticed that some brands have reduced package sizes, but the price is the same or higher; the “shrinkflation” phenomenon.

Home sweet home

Home continues to be the central hub shaping purchasing behaviors; a trend that began during the pandemic and continues to be amplified. Consumers say they expect to cook more at home (49%), spend more time at home (47%), and anticipate getting entertained more at home (40%).

Customer experience in the spotlight 

Although price remains a key driver in choosing stores and brands, customer experience continues to play a decisive role. Seventy-four percent have switched brands or retailers due to poor service, while 65% would recommend a brand primarily due to positive customer experience, regardless of price.

Online shopping and digital transactions are now routine

Digital purchases and online transactions are now fully integrated into Greek consumers’ daily lives, especially in financial and banking services (92% report frequent or occasional use), followed by customer service (80%) and product purchasing (74%).

Meanwhile, consumers place high priority on online security: 56% say cybersecurity is their top concern when shopping online. They worry mainly about theft of bank card details (72%), personal data leaks (64%), and privacy violations by companies (63%).
 

Artificial intelligence: awareness and use

Greek consumers are gradually becoming more familiar with AI: 52% say they have some understanding of what AI is and how it is used, while 28% say they have a good grasp around it. Greater knowledge has increased confidence in AI applications, with more than half expressing complete or moderate trust. However, a significant number remain cautious, especially regarding applications involving sensitive financial or medical data.

Two out of three consumers have interacted with a chatbot or a digital assistant shopping online. Yet eight out of ten still prefer human assistance when they need support. The need for human interaction remains important throughout the customer journey, but is most pronounced after purchase, for questions or complaints (64%) and for returns or refunds (67%).
 

Digital engagement and the online shopping experience

To improve their online shopping experience, consumers primarily want updates on the status of their order (83%), quick resolution of any problems (77%), easy access to customer service when needed (76%), a simple and fast checkout process (76%) and notifications when items on their wish list go on sale (75%).

Recommendations for businesses

Drawing on the survey results and its deep understanding of the market, EY puts forward a set of recommendations aimed at helping Greek businesses enhance the value they deliver to consumers, while fostering the trust that will be crucial in shaping the future of the market.