ECONOMY

Jumbo becomes a victim of its success

jumbo-becomes-a-victim-of-its-success

Athens-listed retailer Jumbo appears to have become a victim of its own success, as well as a hostage to the choices of the group’s owner, Apostolos Vakakis.

The model of having thousands of low-cost products in its chains of stores has proved to be the biggest obstacle for the operation not only of its online store but also of its brick-and-mortar outlets, with the government’s models of click-and-collect and click-inside, announcing its temporary closure as of last Thursday.

This has highlighted the inability of Jumbo to adjust to the conditions that the pandemic has now created in retail commerce.