Greece’s summer sales period ends Monday with retailers facing a subdued outlook for the months ahead, as consumers continue to spend selectively and small and medium-sized businesses struggle with weak purchasing power.
Retail sector estimates suggest there has been no significant improvement in consumer sentiment during the final stretch of the sales period, despite the return of consumers from their August holidays.
Retailers say limited disposable income remains the main constraint on purchases of clothing, footwear and other consumer goods, with shoppers increasingly focused on essentials and looking for discounts.
According to data cited by the Piraeus Chamber of Commerce and Industry, total retail turnover during the summer sales is expected to reach about 7 billion euros ($8.1 billion). A particularly strong finish could push the figure toward 7.1 billion euros, while an earlier estimate of 7.4 billion euros is now considered unlikely.
The weakness is particularly pronounced among smaller businesses.
