In startup parlance, the term “unicorn” refers to companies that have surpassed the $1 billion valuation milestone. In the organized food retail sector, a similar “unicorn” is already taking shape in Crete and the islands, as the two regions together are approaching 1 billion euros in sales in the first five months alone, even before the peak of the tourist season.
Overall, in the first five months of the year, according to NielsenIQ data, sales in the organized food retail sector exceeded €6.625 billion, compared to €6.185 billion in the corresponding period of 2025. In other words, in just five months, the market added nearly €440 million in new revenue, according to NielsenIQ data, recording 7.1% growth.
This performance is particularly significant because it covers the period up to May 24, that is, before the start of the tourist season, which traditionally provides a significant boost to consumption, especially in island regions.
The most interesting aspect, however, lies not only in the level of sales but in the geographic distribution of growth. Crete and the islands recorded the highest growth rate nationwide, with an 8.9% increase in sales, significantly exceeding the national average (+7.1%).
Based on NielsenIQ’s market share data, sales on the islands have already reached nearly €530 million, while in Crete they are approaching €437 million. In total, the two regions have generated a turnover of nearly €970 million, accounting for a 14.6% share of total consumption.
Across the entire market, the fresh produce categories are growing at a rate of 9.9%, while even the Bazaar category, which includes non-food items, is recording a 9.4% increase. At the same time, the market continues to rely primarily on food and beverages, which account for more than half of total revenue, with sales reaching €3.6 billion in the first five months.
At the same time, e-commerce continues to gain ground. Online sales by major chains have increased by 20.9% and exceeded €153 million, with their market share now reaching 3.3%, while the private label share has stabilized at 24.3%.
At the same time, the intensity of promotions has decreased significantly. The percentage of FMCGs sold under promotional terms has fallen to 35%, down from levels above 55% in previous years.