Winter sales season turnover down 5-6 pct in first week

Turnover during the first week of the winter sales season was down 5-6 pct, Vasilis Korkidis, president of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE) told ANA on Thursday, adding that business was expected to rise by the end of the month.

Korkidis said that beyond a continuous shrinking of consumers’ purchasing power, the market seemed to have been hit by the fact that discounts began earlier this year.

According to ESEE figures, sales were down around 17 pct so far from the beginning of the Christmas holiday season, compared with last year. At the beginning of the winter sales season, Korkidis had said that the 50 days of this season with a total turnover of 5.4 billion euros could be able to cover a large part of turnover lost in the 15 days of the holiday season which, unfortunately, failed to justify initial estimates.