The summer sales period in Greece begins this Monday in what is shaping up to be a perfect storm for retailers.
For some days now, retail stores have been offering discounts of up to 50 per cent in an effort to attract consumers who, due to the imposition of capital controls and uncertainty regarding the financing of the Greek economy, are almost exclusively keeping spending to food and fuel supplies.
It’s no coincidence that most retail stores have since last week been encouraging consumers to keep shopping using credit and debit cards. The National Confederation of Commerce and Entrepreneurship (ESEE) did likewise in a statement issued yesterday.
Despite the difficult financial situation, ESEE is keeping its fingers crossed that this sales period, which ends on August 31, will be even more successful than conditions would indicate.
ESEE is inviting consumers to ignore the fact that buyers have limited access to their bank accounts, and to use their credit or debit cards “to make the most of the offers that will doubtlessly come their way…”
On July 19, shops in Greece will be allowed to open from 11.00 am to 8.00 pm due to it being the first Sunday of the sales period. According to a law passed two years ago, shops can open on seven Sundays per year.
Source: Kathimerini