Hellenic Confederation of Commerce and Entrepreneurship: Retail commerce turnover falling

Three out of four retail commerce enterprises recorded lower turnover during the Christmas and New Year holiday season, while one in three enterprises made offers during Christmas, a survey by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) said on Wednesday.

The survey was conducted in the period December 12, 2016 – January 9, 2017 and showed that turnover in the holiday season is on the decline. Businessmen attributed this development to a delay in concluding a second review of the Greek economic programe, a continuing decline of consumer income and rising taxes, all creating a negative climate in the market. They aded that the introduction of a “Black Friday” event in November absorbed a significant part of available incomes.

The survey showed that one in three retail enterprises made offers during the Christmas period, of which 50 pct were clothing/footwear and 41 pct were home equipment.

ESEE said 76 pct of retail enterprises reported lower turnover during the holiday season compared with last year, while 17 pct said its turnover was unchanged a 7.0 pct said turnover grew. In the clothing/footwear sector an 88 pct of enterprises reported a decline in turnover, while in the food sector a 58 pct reported a decline in turnover. Four out of 10 enterprises with lower turnover during the holiday season lost more than 30 pct of their turnover in one year. The figures cover all regions of the country.