ECONOMY

Cold front hovers over retail market

The retail market has had a cold front lingering over it, not due to the onset of winter but because many consumers have chosen to freeze purchases unless these concern absolutely essential goods. Traders see consumers passing their festive windows without stopping to buy anything and talk of market stagnation. ‘We managed to avoid a repeat of the riots of last year in Athens city center, but the problem this year is developments in the Greek economy,’ said one trader. Most shopkeepers in Athens say their turnover remains about the same as last year or has fallen by as much as 15 percent. Compared to 2007, the loss totals 25 percent on average in apparel goods, affecting the whole market, ranging from the least costly to the most expensive products.