Greece retail sector sees sluggish summer sales

Summer sales in Greece have underperformed expectations due to limited consumer purchasing power. According to Makis Savvidis, Vice President of the Athens Chamber of Commerce, retail movement has been sluggish and lacked momentum.

There is a notable shift in market dynamics where large enterprises are seeing increased sales while small businesses face a decline of approximately 20%. This transfer of turnover is particularly evident in the clothing sector, as larger companies possess the flexibility to import goods from abroad at lower prices and offer more aggressive discounts.

Consumers are increasingly bypassing traditional sale periods in favor of major events like Black Friday, waiting for specific products when they have sufficient funds. Despite efforts by retailers to attract customers through quality services and discounts, economic pressures on Greek households continue to suppress overall consumption.