The consumer association Efektiva organized a one-day boycott of the five largest retail chains in Serbia, calling for action due to the high prices of food products, which are reportedly among the highest in Europe, and the alleged lack of real competition in the market. Despite the boycott, reactions varied across the country. Some consumers supported the call for lower prices, while others were unaware of the action.
In Belgrade, some shoppers expressed frustration over the price consistency across major chains, noting that the prices are much higher than in other European countries. Shoppers from other cities, such as Šabac and Čačak, also joined the boycott, seeking more affordable options in smaller, local stores.
Efektiva’s goal is to send a message to both the retailers and the government, urging more decisive action on the issue, which has been a growing concern since the pandemic. The association hopes that by pushing these retail giants to lower their prices, other stores will follow suit.
In response to the boycott, one supermarket chain, Univerexport, announced that it would not accept price increases in the first quarter of 2025, citing the influence of similar actions in Croatia. Consumer associations and public media in neighboring Croatia played a major role in their own boycott, significantly impacting the retail chains’ turnover for a day.
The situation is compounded by inflation and high profit margins, with some estimates suggesting margins can reach up to 45%. The government has also started evaluating the prices of 70 products, while retail chains are under scrutiny for potentially inflating prices during the economic downturn.
Economists suggest that the solution lies in increasing market competition, but not by introducing another oligopolist. There are also ongoing investigations by the prosecutor’s office, as four of the five major retail chains have been suspected of price-fixing and reaping huge profits during the inflation period. Despite the public outcry, little action has been taken thus far, leaving many consumers frustrated.
