The turnover of retail trade in Greece posted a marginal drop in July, according to data released by the country’s statistics authority, ELSTAT.
The concerning figures come in spite of the summer sales by retailers, as consumers are trying to make ends meet due to the rising cost of living.
More specifically, according to ELSTAT, the overall turnover index in retail trade in July 2024 decreased by 0.2%, compared with the corresponding index of July 2023, while compared with the corresponding index of June 2024, it decreased by 1.8%.
- The Overall Volume Index in Retail Trade (i.e. turnover in retail trade in Greece at constant prices) in July 2024, decreased by 2.8%, compared with the corresponding index of July 2023, while, compared with the corresponding index of June 2024, increased by 1.2%.
- The seasonally adjusted Overall Turnover Index in July 2024, compared with the corresponding index of June 2024, decreased by 2.4%.
- The seasonally adjusted Overall Volume Index in July 2024, compared with the corresponding index of June 2024, decreased by 3.2%.
In light of these figures and the general rise in the cost of living, retail business owners in Greece have lowered their bar of expectations ahead for the major discount events of the fall, such as Black Friday and Cyber Monday.
“We had pinpointed early on the issues that would surface in the market despite the discounts,” noted Maki Savvidis, vice president of the Athens Chamber of Commerce, Greece’s representative in Ecommerce Europe, and vice president of the Greek E-commerce Association (GR.EC.A), in an interview with OT.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
PM Mitsotakis to Chair New Democracy’s Committee Meeting
Today’s meeting is seen as a crucial opportunity to halt internal disputes within ND and reaffirm unity within the party.
Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy
EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.
The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.
Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year
Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.
Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses
Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.
Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February
Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.
![ΕΛΣΤΑΤ: Αυξήθηκε η οικοδομική δραστηριότητα κατά 15,6% το Δεκέμβριο [πίνακες]](https://www.ot.gr/wp-content/uploads/2025/03/DSC9655-2-1024x569-1-90x90.jpg)
![Δασμοί Τραμπ: Οι επιπτώσεις στις ελληνικές εξαγωγές και στην ευρωπαϊκή οικονομία [γραφήματα]](https://www.ot.gr/wp-content/uploads/2023/10/ot_exagog_ISRAEL-600x352.png)
