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Retail commerce lost 4.5 billion euros last year

retail-commerce-lost-4-5-billion-euros-last-year

Retail commerce saw turnover plummet by around 4.5 billion euros in 2020 due to the pandemic and the lockdowns, shedding around €1.5 billion in the fourth quarter of the year, the Hellenic Statistical Authority reported on Tuesday.

ELSTAT said that accumulated turnover was €47.25 billion, down 8.6% from 2019 (€51.72 billion).

Turnover dropped for jewelry and watch stores by 46.8% and 39.8% for textiles and apparel in open markets.

Businesses offering postal or online sales reported an 18% increase in turnover and enterprises in computer and software reported a 13.1% hike.