Greece’s Retail Sector Celebrates Record Turnover Surge During Festive Season
As Greece embraces the festive spirit, the retail sector is witnessing an extraordinary surge in performance and turnover for 2023, with projections pointing towards an impressive 4 billion euros turnover for December alone.
The retail landscape is marked by a provisional opening schedule, with most shops operating from 11 am to 6 pm, extending to 8 pm for larger franchises and shopping malls, except on New Year’s Eve when shops will close at 6 pm.
The sector is set to surpass the previous year’s turnover of 3.8 billion euros, with clothing, shoes, toys, personal beauty products, and various-sized electronic devices dominating consumer choices.
ELSTAT, Greece’s statistics agency, reports a substantial increase in turnover, indicating a 2 percent rise per quarter for very small commercial enterprises and over 4 percent for medium-sized enterprises in the retail sector.
Looking ahead, the anticipation builds for the winter sales of 2024, scheduled to kick off on January 8 and run through the end of February. The first Sunday of the winter sales, starting on January 14, is expected to see shops remaining open, further fueling the positive momentum in Greece’s retail sector.
The remarkable upswing in turnover reflects not only festive fervor but also robust consumer confidence and spending, contributing significantly to the economic landscape.