Greece retail sector faces declining summer sales as RRF nears completion

Greece's summer sales period is set to conclude on August 31, 2026. Retailers are facing challenges as early data suggests a slowdown in turnover compared to the previous year. A survey by the Piraeus Commercial Association indicates that 55% of businesses reported decreased turnover during the first month of sales, attributing the decline to limited consumer purchasing power and increased competition from international e-commerce platforms.

To protect consumers, the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) and the Thessaloniki Commercial Association emphasize strict pricing regulations. Businesses must clearly display both the new discounted price and the previous reference price, which must be the lowest price applied in the 30 days prior to the discount.

Separately, the Recovery and Resilience Facility (RRF) is entering its final stages in Greece. By August 31, 2026, all projects and reforms must be completed, with the final payment request to the European Commission due by September 30. Greece has already received 24.7 billion euros since 2021, and aims to collect the remaining 11.3 billion euros by the end of the year to complete the 36 billion euro package. Alpha Bank analysts note that maintaining this investment momentum after the RRF concludes will be a critical challenge for the country's long-term productivity and growth.