BUSINESS

Small increase reported in retail trading at Christmas

DIMITRA MANIFAVA

TAGS: Economy

Turnover at stores in Greece improved somewhat over the holiday period compared to last year but remains a long way from satisfactory, according to retail experts.

While trading did increase, turnover in most categories only grew marginally because disposable incomes have yet to see a notable recovery and the majority of consumers are waiting for the winter sales, which begin next Monday. Notably, the feedback from the market was the same from small and medium-sized retailers as from retail chains.

Estimates say that stores in the center of Athens and big shopping malls recorded an increase in both trading and volume, while their counterparts in the suburbs and in the rest of Greece saw a reduction compared to Christmas 2018.

Food stores reported a rise in turnover, with provisional estimates speaking of a 4 percent advance, mainly due to the increase in meat prices. The mild weather conditions in the runup to Christmas resulted in a late start to the sales of seasonal commodities and some apparel. However, a part of the loss in turnover was offset by acquisitions by tourists, who were mainly visiting from non-European Union countries.
 

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