Piraeus Retail Sales Slip as 55% of Shops Report Lower Turnover in First Month of Summer Discounts

A survey by the Commercial Association of Piraeus (ΕΣΠ) shows that 55% of local retailers recorded a drop in turnover during the first month of the 2024 summer discount period, compared with the same period in 2025. One‑third of businesses saw sales remain at previous‑year levels and only 12% reported an increase. The association attributes the downturn mainly to limited purchasing power of Greek households, with 73% of respondents citing reduced disposable income as the key factor. A secondary concern is the growing competition from international e‑commerce platforms, which pressure margins for small and medium‑size enterprises. Many firms estimate a 10‑20% sales decline and warn that continued weakness could jeopardise operations for the remainder of the discount season. Retailers hope that August, when many Greeks travel and resume spending, will reverse the trend. ΕΣΠ president Theodoros Kapralos called for measures to boost household income and lower operating costs for SMEs to sustain the local market.