ECONOMY

Drop in toy turnover bodes ill for Christmas

Toy companies in Greece are expecting a decline in turnover of up to 15 percent in the coming festive season compared to the same period last year. The majority of companies are basing their worries on two factors: the decline in the number of visitors to toy stores and the drop in the average amount spent per purchase. The chief executive officer of the Kou-Kou toy chain says that December, which normally accounts for 50 percent of the year’s sales, will see turnover drop by 15 percent based on the decline in household consumption. Giochi Preziosi Hellas, a toy importer, has seen turnover drop by 10 percent in the last four months, year-on-year, and expects this to continue over Christmas.