BUSINESS

Kiosks are true gold mines

MARIA SIDERI

The annual turnover of a Greek kiosk could be as high as 3 million euros, a survey shows, although the general economic crisis has also affected this market. The «Kiosk GR 2005» survey recorded that a quarter of kiosks had an annual turnover of between 66,000 and 350,000 euros, half of them had a sales volume between 350,000 and 700,000 euros, while another quarter had a turnover ranging from 700,000 to 2,920,000 euros. With more than 5 percent of kiosks managed by foreigners, 77 percent of kiosks operate from 16 to 22 hours per day, while the rest are open around the clock. Respondents told the survey that their customers used to visit kiosks to buy cigarettes, for example, but would never buy just one thing. This has changed now, though. Spontaneous purchases tend to be extinct. Cigarettes - along with bus tickets, newspapers, magazines and phone cards - are the main reasons for people to visit a kiosk. About one in two buys tobacco-related products, one in five buys newspapers or magazines, while tickets, phone cards and refreshments contribute 10 percent each to kiosks' clientele. Most kiosk owners are fairly satisfied with their tobacco and sweets wholesalers but not with the companies that produce or distribute products, from which kiosk owners ask greater profit margins.

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