Hellenic Confederation of Commerce: Spring mid-sales season results disappointing

Vasilis Korkidis, president of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE), on Wednesday expressed his concern over the institution of retail sales after the release of a survey showing that business fell during the mid-sales season in 42 out of the 67 regions of the country.

The survey, conducted by the Institute of Small- and Medium-sized Enterprises of the Hellenic Confederation of Commerce and Entrepreneurship, said that in 20 out of 67 regions, sales were unchanged compared with the corresponding period last year, while only two regions in Attica, Poros, Santorini and Serres recorded an increase in sales.

“We returned back to the worrying negative indicators of sales while the market was generally subdued during the mid-sales season and the Greek consumer very tired. The institution of sales has been over-extended and was petering out,” Korkidis said.

The survey, conducted on a sample of 224 enterprises around the country, showed that 80 pct of enterprises participated in the spring mid-sales season, with 60 pct offering sales of between 11-40 pct, a 32 pct offering sales of 11-20 pct and 28 pct offering sales of 21-40 pct. One in two enterprises (53 pct) offered sales in all their merchandise while a 14 pct in the biggest part of new deliveries.

A 56 pct of enterprises in the survey recorded lower sales compared with last year (a percentage lower compared with a 70 pct recorded in 2017). A 70 pct of enterprises with a turnover of less than 30,000 euros recorded a decline in sales. A 53 pct of enterprises believe that spring mid-sales season does not affect their turnover in the spring-summer period, while a 29 pct said this measure has a negative impact and a 15 pct a positive impact.