Almost half of retail enterprises reported lower turnover in holiday season

Almost half of Greek retail enterprises (49 pct) reported lower sales turnover during the Christmas and New Year holiday period, from 51 pct in 2018, the Commerce and Services Institute of Hellenic Confederation of Commerce and Entrepreneurship (ESEE) said in a survey.

The survey showed that clothing/footwear was the sector mostly hit by this decline, followed by bookstores, sports equipment, toys, cosmetics, while the foor-beverage sector reported the smallest losses with supermarkets reporting an 1.5 pct increase in turnover.

ESEE said that only 17 pct of enterprises reported an increase in sales during the holiday season, with large enterprises reporting a 21 pct increase in sales. Northern Greece and Attica reported the best performances, while Central Greece, Aegean islands and Crete showed a discourating picture. The period before Christmas was the best for more than 50 pct of enterprises, while almost a 30 pct of enterprises said their best turnover was made in the period between Christmas and New Year’s eve.

A 46 pct of consumers preferred cheaper products, while sales of expensive products rose 12 pct (from 4.0 pct in 2018). Around 40 pct of enterprises promoted special offers during the holiday season, unchanged from 2018, while the majority of enterprises seemingly covered their tax obligations.