The first signs after the reopening of shops following the lockdown appear positive, despite initial negative estimates, according to an analysis from the Institute of Commerce and Services of the Hellenic Confederation of Commerce and Entrepreneurship (ESEE).
However, ESEE stresses, we cannot speak of a return to normality, as it is still impossible to assess the depth of the pandemic’s impact.
The institute’s study is based on data from the Hellenic Statistical Authority (ELSTAT) on the turnover of retail commerce enterprises for April and May, as well as of all sectors in the economy.
The analysis shows that both for the sum of retailers and specifically for the enterprises that had their operation suspended, the picture has been better than in the entire economy for those two months, in spite of shrinking turnover. In May, the 14.9% turnover losses of retail commerce enterprises that had their operation suspended from March 18 were not as bad as across all commercial enterprises (-19.2%).
The institute stresses that the coming period will be crucial for the rest of the year, as it will also incorporate the impact of the pandemic on tourism.