Six in ten retail businesses in Greece reported lower sales during this summer’s discount season compared to last year, according to a nationwide survey released Thursday by the Hellenic Confederation of Commerce & Entrepreneurship (ESEE).
The results show that the traditional summer sales, intended to provide a mid-year boost, missed the mark. Nearly half of business owners (47%) said the season underperformed expectations, blaming rising operating costs, reduced household disposable income, and higher supplier prices.
Only 10% of retailers reported stronger sales compared to 2024, while 31% said they saw no change. The survey found that positive results were largely limited to very large businesses.
“The results of the summer sales complete a negative series for the market since the start of the year,” said ESEE President Stavros Kafounis. “Six out of ten businesses recorded a drop in sales, reflecting their continued inability to recover.”
Kafounis warned that weak turnover is only part of the problem. “The main challenge is the viability of thousands of small, medium, and very small businesses in the coming months,” he said, urging the government to take immediate measures to support enterprises “that keep the market and employment alive.”
He also suggested that Greece’s practice of fixed discount periods, traditionally held in winter, Easter, and summer, needs to be re-evaluated to ensure they actually benefit both retailers and consumers.
Key findings
– For 7 in 10 businesses that saw lower sales, the decline was up to 20%.
– Among the 10% who reported growth, two-thirds said increases did not exceed 10%.
– Half of businesses reported fewer customers than last year.
– Two in three shops applied the same discounts as in 2024, and nearly half (47%) extended discounts across all products.
– Despite the growth of e-commerce, 45% of entrepreneurs said physical store sales outpaced online sales.
– The first half of August proved to be the busiest sales period for 38% of retailers.
Measures Needed
The weak results deepen concerns over Greece’s retail climate, with ESEE calling for targeted interventions to prevent further closures and protect jobs.
Greek Prime Minister Kyriakos Mitsotakis is expected to announce support measures next week during the 89th Thessaloniki International Fair (TIF).
The annual trade and business exhibition, known by the acronym DETH in Greek, is one of the country’s most important economic and political events. It is during the TIF, that the PM traditionally delivers a keynote speech outlining government policy and economic priorities for the year ahead. The fair this year takes place between September 6 to 14.
