Retail commerce turnover in Greece up 13.2% in Q1

Retail trade turnover increased by 13.2% in the first quarter of 2023 compared to the corresponding period last year, as it amounted to 14.88 billion euros, against €13.15 billion in January-March 2022.

Of course, part of this increase is related to price hikes.

On the other hand, an increase in demand has been recorded in several sectors this year, as the initial shock caused by the outbreak of the war in Ukraine at the end of February 2022 and the large price increases that followed has now subsided.

Excluding the vehicle, food and fuel sectors, turnover in retail trade in the first quarter of 2023 came to €5.22 billion, increased by 15.2% compared to the corresponding period last year.

The largest increase in turnover was recorded in the automotive sales sector (46.4%), which is linked to the greater influx of vehicles ordered several months before in used vehicle sale outlets (42.7%), a phenomenon that appeared at the beginning of the major price increases, in the electrical appliances sector (41.2%), an increase largely related to the fact that, in contrast to the corresponding period last year, the “Recycle – Change Device” program is ongoing, as runners-up continue to join it, but also in audio and video equipment stores (37.2%).

In the largest sector of retail trade, supermarkets, turnover increased in Q1 of 2023 by 9.4%, though this rise is thought to be exclusively the result of inflation.