ECONOMY

Winter sales fall flat for most firms

winter-sales-fall-flat-for-most-firms

Just 7 percent of enterprises, mainly small and medium-sized ones, saw their turnover go up in this year’s winter sales, which formally ended last Saturday. Nevertheless, most of them are still providing special offers in a bid to get rid of their winter merchandize.

According to a survey by the Hellenic Confederation of Commerce and Entrepreneurship (ESEE), 69 percent of enterprises said that this year’s winter sales turnover lagged that of last year, while 24 percent said it was the same as in January-February 2019.

Most retailers (81 percent) said they intend to continue offering products at lower prices even after the closure of the sales window, probably until they run out of stock. “This is indicative of the strong pressure retail stores have recently come under,” ESEE commented in its report.

Out of the enterprises that showed a decline in winter sales turnover, 39 percent reported a drop of up to 20 percent, two in five registered a dive of between 21 and 40 percent, and 14 percent of retailers experienced a contraction in excess of 40 percent year-on-year.