Investments with a particular focus on stores and logistics are planned by Lidl Greece starting from next year, as stated by the Chairman of the Board, Martin Brandenburger, who emphasized his optimism for the company's continued upward trajectory until the end of 2023, driven by both organic growth and more.
"From 1999 to the present day, the company has invested over €1.4 billion in the country, implementing its investment program, which, for the next 3 years, includes new stores and total investments of over €120 million for its network of stores and warehouses," he said.
He emphasized that the company operates 4 logistics centers, and from these, within less than 24 hours, all fresh, and perishable products are delivered every morning to all stores, in every corner of Greece. This means offering the same prices in all stores, regardless of location, and a common layout that ensures a unified shopping experience, clear and easy navigation for customers with reliable and timely information about products and prices, thanks to electronic price tags available in all 230 stores.
"We are a consistent and reliable partner for our suppliers, with an average payment term of 41 days, while the industry average is 117 days," he stated.
ENCOURAGING PERFORMANCE THIS YEAR
Mr. Martin Brandenburger also commented on the performance of Lidl Greece in 2023, stating that it started with encouraging rates and continued with remarkable momentum in the overall business effort of the company in Greece. In April, the fully automated order reception in stores was successfully completed, a multidimensional project that proposes automated merchandise needs for stores, maximizing availability and reducing overall supply chain costs, as well as food waste at the source. "Needs are calculated based on an algorithm that evaluates data such as historical data, turnover trends, promotion details, and weather forecasts. We note strong performance, thanks to our business model and the passion, dedication, and excellent professionalism of our over 6,700 people. I am optimistic that we will continue our upward trajectory until the end of the fiscal year."
