Retail turnover rose by 5.1% last year
Inflation, the limitation of households’ disposable incomes, as well as climate change comprise the perfect storm for Greek retailers in the clothing sector, at a time when the messages from other European markets are not particularly encouraging. ‘Now we’re going from short pants straight to sweaters, it is as if we have only two seasons,’ market insiders tell Kathimerini, commenting on the effects of climate change. This October proved to be the warmest in Greece in the last 15 years, while November also gave us a warm reception, with the result that until a few days ago many people were walking around in summer clothes.
Retail sales volume increased by just 0.7% in December 2023, the month with the highest consumer demand due to the Christmas and New Year holidays, compared to December 2022.
Indeed, turnover increased by 7.3% as a result of inflation. On a year-on-year basis, however, the average annual turnover in the retail trade increased in 2023 compared to 2022 by 4.4%, while the average annual volume index increased by 5.1%, mainly thanks to the large increase recorded in the first two months of 2023.
Within the year, however, the volume index moved in negative territory for a total of five months (April, June, August, September and October).
