Traders expect the summer sales starting on Monday to warm the market, saying that shopping activity has been more or less “frozen” since the start of the year.
The regular summer sales will last until Saturday, August 30. However, some large retail chains already started making extensive offers, mainly through their online stores, as much as two weeks earlier. Next Sunday, July 20, commercial stores are allowed to operate, as that will be the first Sunday of the regular summer sales, from 11 a.m. to 8 p.m.
According to data from the Hellenic Statistical Authority (ELSTAT), retail turnover in the first quarter of 2025 came to 16.16 billion euros, recording an increase of just 0.6% compared to the first quarter of 2024. Excluding fuel, vehicles and food, retail turnover in the first quarter of 2025 amounted to €5.58 billion, up 1.2% from the first quarter of 2024.
In fact, turnover in traditional retail sectors, such as clothing and footwear, was even below 2024 levels in the first quarter of 2025. Therefore, for example, turnover in shoe retail stores amounted to €106.37 million in the January-March 2025 period, compared to €114.63 million in the same period of 2024.
The clothing sector did record an increase this year, but only a small one compared to 2024, as turnover in the first quarter of 2025 came to €702.52 million, against €699.48 million in the first quarter of 2024.
“The commercial world maintains its optimism and places its hopes for a higher turnover than last year on increased tourism flows during the summer sales period, when foreign visitors will also contribute to the sum of turnover with imported consumption.
Attractive prices on selected and branded items usually act as a magnet for the shopping public, which, however, compares the discount prices offered in e-shops,” said the president of the Piraeus Chamber of Commerce and Industry, Vassilis Korkidis.
He went on to add that “the desired outcome is for the discounts to limit the inflationary summer storm, improve economic sentiment and strengthen consumer confidence in the market. I hope our customers take advantage of the discounts and for merchants to increase sales.”