The online supermarkets CareMarket.gr and yoda.gr on Wednesday announced an agreement for the gradual merger of the two companies to create the biggest exclusively online supermarket in terms of its client base and sales volume, with the capitalisation of a market share that will exceed 25 pct.

The agreement calls for progressive joint operation of the two companies that will keep the caremarket.gr platform as the basic brand of the new company, while yoda.gr will have a majority stake in the new company that will be formed and take over its management.

The aim of the new platform will be to further improve services to customers, expand the list of products and best use the shared storage and distribution centre.

Vassilis Stasinoulias, CEO of yoda.gr, noted that the online market in Greece has been expanding rapidly in recent years, in line with worldwide trends and the merger will "create new conditions" in this market.

According to data collected by eRetail Audit, which records online supermarket transactions in real time, total e-sales in the retail food market in 2017 reached 37 million euros and grew at a rate of 50 pct. Forecasts predict that by 2020, online sales in the Greek retail food market will exceed 1 pct, reaching 180-200 million euros.