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This year’s winter sales turnover in retail reported losses of nearly 1 billion euro (930 million euro) compared to the same period of 2014, as shown by the calculations of the National Confederation of Hellenic Commerce.

In particular, the estimated turnover in the winter sales period of 2015 will amount to 4.44 billion euro (a 17.3% drop in market turnover in comparison with the 2014 winter sales).

The majority of retailers (70%) reported a decline in sales compared to the same period of 2014 whereas over one fifth of them (22%) indicated unchanged sales rates. Only 8% of retailers stated that sales slightly improved compared to last year.

As to sales decline, the responses vary, since 23% of retailers indicated a 11-20% decline, 23% of them reported a  21-30% decrease and only 10% a 0%-10% decrease. One fifth of retailers (20%) reported a 30-40% sales decline and almost one quarter (23%), a more than 40% decline in their turnover.

Finally, according to the Confederation, the vast majority of respondents (92%) indicated that the opening of shops on the first Sunday of winter sales had no impact on stimulating consumer spending. The Confederation also points out that only 42% of shops were open on Sunday, 18 January.

"It is already clear, even to those who are highly unaware of market operation, that the policy of austerity has exhausted the powers of consumers, the direct consequence of this being their limited reaction despite the particularly attractive winter sales," retailers commented.

Discounts

46% of companies offered discounts of between 20% and 40%. One in three companies offered price discounts of over 40% whereas the discounts of some companies were as high as 80%.

There is a clear distinction in the levels of discounts according to the field of company activities. For example, shops for household appliances as well as those selling goods for entertainment and education offered lower discounts compared to companies selling clothes and shoes.