ECONOMY

Winter sales begin

The 2012 winter sales began on Monday across the country at a time when Greece?s retail sector is struggling to weather the biggest crisis of the last few decades.

Retailers have slashed prices, with many offering discounts of between 40 and 70 percent from the very start of the sales period, something which should appeal to cash-strapped Greek shoppers.

Traders will be hoping to make up for a holiday season decline in sales that came close to 25 percent year-on-year. The majority of retailers had already introduced special offers after New Year?s, so they are now forced to cut their prices even more aggressively.

The winter sales period ends on February 29.