Black Friday has firmly taken hold in Greece, becoming one of the most anticipated shopping periods of the year. Yet, despite consumer expectations, the dramatic 70%–80% markdowns commonly seen in countries like the United States are increasingly rare in the Greek market. Retailers say that economic pressures, legal changes, and year-round price promotions have reshaped how discounts work.

A major shift occurred with the 2022 reform that abolished traditional mid-season sales in May and November. Since then, businesses have been allowed to offer promotions at any time of the year, depending on their needs. As a result, Black Friday—once the key November event—has gradually transformed into “Black Week” or even “Black Month,” with stores trying to maintain interest in a market where purchasing power remains limited.

This constant stream of offers affects how discounts are calculated. According to the head of the Piraeus Commercial Association, many products have already been reduced earlier in the year, meaning Black Friday discounts apply to an already lowered price. A product that dropped from €10 to €8 months earlier will have its new discount calculated from €8, not the original price. As a result, percentage cuts appear smaller even when the final price is competitive.

Rising operating costs also play a significant role. Energy, transport, and supply expenses have climbed, shrinking the ability of businesses—especially in Greece’s relatively small market—to offer deep reductions without financial loss. Unlike the United States, where massive volumes of sales can sustain steep discounts, Greek retailers lack the same scale.

The rapid growth of e-commerce has further intensified competition. Customers can now compare prices across retailers and even across borders, pushing stores to maintain lower prices year-round. At the same time, Greek shoppers are becoming more cautious, making purchases only when necessary rather than buying impulsively.

Authorities continue to conduct market checks to prevent misleading promotions. Combined with competition, this oversight encourages retailers to focus on genuine offers, especially in electronics, a sector that traditionally dominates Black Friday sales.

Although the era of spectacular price drops may be fading, the discounts that do exist are largely real. But in today’s market, consumers need to research, compare prices, and stay informed to make the most of the Black Friday period.