Summer sales: The “curtain” falls on signs of “stimulation” – Offers begin

Summer sales: The “curtain” falls on signs of “stimulation” – Offers begin
Summer sales: The “curtain” falls on signs of “stimulation” – Offers begin

The “curtain” falls today on the summer sales, with ten days of offers just around the corner.

Following the survey published by the Athens Chamber of Commerce, the fund “closes” on a positive note for most businesses, which showed an increase in turnover compared to 2021, although sales were lower compared to 2019, the period before from the coronavirus pandemic.


However, the economic “stimulation” of commercial enterprises from the high tourist traffic, not only on the islands but even in the areas of the center of Athens, was important. On the contrary, purchasing activity fluctuated at lower levels in the rest of the country.

Despite the end of the summer sales, several companies are expected to continue in the coming days with offers on their products, in order to liquidate their stocks.

In fact, tourism has boosted sales growth, but as businesses move away from areas with tourist flow, they rely only on domestic consumption.

The investigation of the Athens Chamber of Commerce

According to the survey of the Athens Chamber of Commerce, which was made public a few days ago, six out of 10 commercial enterprises in Athens saw better cash this year than in 2021, but correspondingly 6 out of 10 saw a worse turnover than the “normality” of 2019.


In summary, better turnover stated it 57.7%, same turnover stated it 19.7% and worse turnover stated it 21.6%.

But to the question if the turnover was better compared to 2019better turnover stated the 14.2%same turnover stated the 20.4% and worse turnover stated the 59.8%.

When asked how entrepreneurs would characterize this year’s sales turnover, based on business planning, this year’s sales turnover was expected for 34.3% of respondents, worse for 49.4%, better for 14, 4%, while 1.9% did not answer the question.

To the question what percentage of the turnover is due to tourism, the 63.5% of shops stated that 0-10% of their turnover is due to tourism, 15.8% of stores stated that the 11-25% of their turnover is due to tourism, the 9.4% of stores stated that 26-50% of their turnover is due to the same reason, the 4.3% of stores stated that the 51-80% of their turnover is due to tourism, the 3.6% of stores stated that the 81% and above their turnover is due to tourism, while “I don’t know – I don’t answer” answered the 3.4% of the shops.


“Better than last year, but far from a ‘normal’ 2019”

On the occasion of the investigation, the president of the Athens Chamber of Commerce, Stavros Kafounis, had stated:

“The large research on the discount period, which has now become an institution, with a representative sample that exceeded 400 points of sale, perfectly illustrates the real situation in the market and is once again a useful tool in our hands.

Self-employed, small, medium and large Greek businesses that operate in the center, the districts of Athens as well as in the regional markets and in all shopping centers (Malls), give the mark of retail trade in this difficult turn, which the market is trying to recover under special conditions and the pressure of inflation.

The language of numbers succinctly recorded that 6 out of 10 saw better funds this year than 2021, but respectively 6 out of 10 they are still quite far from the last “normal” 2019.


Also, an excellent piece of information that captures the potential of planning for all businesses, it showed that only half of the points saw expectations – and therefore their planning – confirmed, while as we all expected, almost 4 out of 10 points are heavily influenced by the tourism.

With this data, it is clear that we went better than last yearbut we are still a long way from surpassing 2019, which is everyone’s only goal.

Photo by Athens Chamber of Commerce

“THE tourism it undoubtedly contributes to the increase in sales, but we should not rely on it alone, because the further we move away from areas with a tourist flow and rely only on domestic consumption, the more difficult the situation becomes.


Therefore, in an unstable international environment, with imported precision taking away income from everyone and the impossibility of proper planning, it is necessary to strengthen and continue support to households and businesses. Absorption of rising energy costs that will improve disposable income until the much-desired balance in the economy is restored is imperative. Otherwise, everything that we have preserved with effort and sacrifice until today, we will see collapse with disastrous consequences for the economy and the country”.

The important highlights of the research include the following:

  • Now half of the stores in the sample belong to the clothing-shoes-sports-accessories category, items that also have the primary role in the discount period.
  • 6 out of 10 points of sale in the sample operate in the center and in the neighborhood markets of the municipality of Athens.
  • The questionnaire aims to record the turnover of commercial stores during this year’s summer discount period and to compare it, on the one hand, with the sales of the corresponding period last year and, on the other hand, with the summer period of 2019, which was the last one held under normal conditions before the pandemic .
  • The results from the 2022 sales survey, compared to those of 2021, reflect a gradual market recovery. However, the international environment, lack of liquidity, rising energy and transportation costs combined with the rising prices of basic necessities, create a huge deficit in the disposable income of consumers and hinder the dynamic growth of sales.
  • A majority of 57.7% said 2022 had better results compared to the same period in 2021, 1 in 5 recorded similar sales, while a strong 21.6% reported worse turnover.
  • In contrast, a comparison with 2019 turnover shows that a large majority 59.8% report worse turnover, 1 in 5 same sales, and only a meager 14.2% managed to exceed 2019 sales this year.
  • Less than half of outlets managed to meet retailers’ expectations for this summer season and hit or exceed sales planning targets.
  • Approximately 4 out of 10 stores that operate in places that attract tourist traffic, whether they are located in the center of Athens near the Acropolis circle, or in shopping centers (malls), significantly increased their turnover from foreign visitors. The rest of the center of the capital, the neighborhood markets of Athens as well as the regional markets, which represent 63.5% of the sample and are not affected by tourism, faced a serious problem, because the minimal disposable income of Greek consumers could not stimulate the turnover.
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The article is in Greek

Tags: Summer sales curtain falls signs stimulation Offers

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