ECONOMY

Jannis Selalmazidis: New investment strategies as a guide

jannis-selalmazidis-new-investment-strategies-as-a-guide

PRAKTIKER HELLAS

Ιn discussing the unprecedented current pandemic, which is a global landmark in crisis management, it becomes obvious that its imprint is visible in all aspects of our daily lives, as well as in the operation of businesses, confirming once again the old adage that there’s a positive side to every bad situation.

Typically, businesses, just like our own company, have come up against significant reductions in turnover, stemming from zero activity during the two-month lockdown, as they strive to limit losses, ensure the required liquidity and respond to the spike in the online demand for goods, which is continuing today.

At the same time, the necessary adaptation to new ways of working, such as teleworking and teleconferencing, have brought to the fore the positive effects of technology: the facilitation of cooperation, time/cost savings and reducing our ecological footprint.

Furthermore, communications, as well as hygiene and safety practices, have been intensified in line with the new environment. And, along with all that, frontline workers in the fields of health, transport and trade have earned the recognition they deserve in society.

Finally, the familiarization of consumers with online shopping has dramatically accelerated the growth of e-commerce and created a new field of activity – as well as the necessity for investment in this area.

RESTARTING THE ECONOMY

It is clear that in order for this mode of existence to continue and for the economy to restart, the protection of human life, the containment of the disease and finding a treatment for it are a prerequisite. Especially for Greece, the continuation of its successful model to deal with the situation will help to fortify its defenses and secure a painless transition to a year of growth. On a purely operational level, the factors that determine the dynamics of recovery are related to different parameters and bodies. I reckon that at the level of business continuity, companies need to make investments based on new development strategies – based on changes in consumer behavior related to digital transformation, the efficient management of human resources, cost reduction and a sustainable supply chain.

A pivotal factor is the significantly improved relationship between the state and business, since their cooperation can yield excellent results. Moreover, another lever for growth is the European Union’s unprecedented support and the access to direct liquidity through the banks. What’s more, boosting public investment, rebooting construction and restoring employment for workers who have been hurt in the crisis will pave the way to recovery.

PROSPECTS & CONSOLIDATION OPPORTUNITIES

The messages regarding the prospects of the Greek market remain promising, mainly due to the opportunities afforded by the positive trends in the tourism industry and the public’s familiarization with online shopping, which filled the gap created in the market and the economy.

At the same time, the successful moves by the government have significantly improved trust among companies and citizens, cultivating relationships of understanding and confidence, providing excellent opportunities for consolidation and opening up prospects. Of particular significance is the existing trend toward further tax cuts, the digitization of many procedures, as well as the expediting of the justice system.

At Praktiker Hellas, we continue to work hard to maintain the positive perception of the consumer public, and to help strengthen the Greek market and the national economy with every means at our disposal.

THE COMPANY AT A GLANCE

Sector: Retail
Headquarters: Tavros, Attica
Establishment: 1991
Employees: 1.600
Financial Turnover: €186 Million