ECONOMY

First ever fall sales start on November 1

Greece’s first ever fall sales are set to start on November 1, lasting for nine days including Sunday, November 3, when all stores will also be open, as dictated by the new law on retail stores.

Retailers may get a desperately needed boost, having suffered severely from the drop in consumer spending, and will have the chance to sell their fall stocks while promoting winter merchandise at lower prices.

The latest available data by the Hellenic Statistical Authority (ELSTAT) on retail turnover, from July 2013, show a 14.4 percent decline from the same month in 2012. The latter half of July hosted the summer sales period.

The November sales period will be the first intermediary spell to come under the new law, while the next will come in the first 10 days of May. The first Sunday of each sales period is a working day for all retailers, including shopping centers, regardless of size.