Greek consumers flooded the digital and physical stores today, Black Friday, to take advantage of the sales and significant discounts, reaching in some cases over 50 percent, offered by retailers.
Clothing and footwear are at the top of the preferences on Black Friday for the Greeks, according to a recent survey, and while shoes and clothes did not experience price hikes comparable to food products over the past two years, increases were still notable.
According to data from the Greek Statistical Authority (ELSTAT), clothing and footwear products saw an annual inflation rate that reached 3.3 percent, while when examining the cumulative rise since 2021 when general costs started ascending, prices have risen by 8.9 percent. This increase is not negligible, especially when considering the significant hikes in energy and subsequently in food, which still plague Greeks with increases nearing double-digit levels.
In this environment, what are Greeks paying for their clothing and footwear compared to other European citizens?
Based on the comparative research OT carried out, the data revealed that apart from food, prices of specific clothing items in European cities came at a lower cost than Greeks paid for the same products/brands.
For example, the popular denim, costs 81.93 euros in Greece, compared to 71.34 euros in Italy, a substantial 14 percent cheaper. In Spain, it is priced at 75.88 euros, while in Lisbon, one can find the same pair of jeans for 60.54 euros, which is 35 percent cheaper! In Ljubljana, Slovenia, it is sold for 72.88 euros, in Riga, Latvia, for 68.50 percent, and in the Netherlands, it is priced at 63.39 euros.
Only Berliners, Parisians, and residents in Brussels pay more for a pair of jeans than Greeks.
A second item examined is the price of a black dress. In Greece, this particular dress is sold for 34.01 euros, while in Italy, it is sold for 31.20 euros and in Spain it goes for 32.21 euros. In Amsterdam, it is available for 24.55 euros, and in Lisbon for 25.79 euros. In Nicosia, it costs 36.11 euros, and in Ljubljana, Slovenia, 36.22 euros. The deviations may appear small, however, these price differences are not negligible when factoring in the differences in wages in these countries. Comparing the minimum wages, Greece has a lower wage than countries such as Spain, Slovenia, the Netherlands, and Italy.