ECONOMY

Retailers disappointed with summer sales

retailers-disappointed-with-summer-sales

Retailers’ performance during the summer sales, which began on July 8 and end today, depends on several factors. Overall, however, those businesses with higher turnover and those with employees – as opposed to those run by their owners – did better than the rest, according to a survey of the Small and Medium Enterprises Institute of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE).

ESEE’s survey found that sales were disappointing overall, but not uniformly so across all businesses and retail sectors. Also, the economic climate improved during the sales period, containing the downward trend.

For the overwhelming majority of retailers, about nine out of 10, sales were the same or lower than during last year’s summer sales period. About 52 percent of respondents said sales dropped, but in 2018, 60 percent had said sales were down against 2017.

About 45 percent of retailers offered discounts from 21 to 40 percent, while 37 percent went higher. Most high discounts were offered by clothing and shoe stores.

Only 21 percent of respondents bought merchandise specifically for the sales season, pointing to low expectations.