Summer sales end with retailers under pressure in Greece

The summer sales period wraps up on Monday, with retailers recording lower revenue than they had expected.

The return of consumers from their holidays does not appear likely to reverse the trend recorded over the last weeks, and the market is preparing to end the season with turnover of around €7 billion, roughly €400 million below the initial optimistic target. Behind the figures lies a problem that retailers increasingly describe as structural: consumers are buying less and becoming far more selective, as housing, food and energy absorb an ever-growing share of disposable income.

For small and medium-sized businesses, the end of the sales period immediately opens up a second debate: does a statutory sales period still make sense when the market is almost permanently operating under a regime of promotions?

Seven in 10 Athens retailers report lower turnover

The initial data clearly illustrate the pressure on the market. According to the Piraeus Chamber of Commerce and Industry, total turnover during the summer sales is estimated at around €7 billion. Only an exceptionally strong finish could push the figure towards €7.1 billion, while the initial €7.4 billion scenario has effectively slipped out of reach.

In Piraeus, 55% of businesses reported lower turnover than last year, around one in three saw turnover remain at similar levels, and just 12% recorded an increase. For 73% of retailers, the main reason is limited purchasing power.

The picture is even more challenging in Athens. According to a survey, 409 small and medium-sized businesses showed that 71.3% reported lower turnover than during the summer of 2025.

Discounts all year round?

The next major battle for the retail sector is now centred on promotions.

Small and medium-sized businesses argue that the ability to run continuous promotions has distorted the nature of the summer and winter sales. When consumers see reduced prices almost all year round, there is little incentive to wait for the official sales periods.

The dissatisfaction is strikingly reflected in the Athens Traders Association survey: 98% are calling for changes to the regulatory framework governing sales and promotions.

At the same time, 93.4% believe that the current system primarily benefits large businesses, multinationals and online platforms at the expense of small and medium-sized enterprises. A similar proportion believe that stricter rules could restore consumer interest in the official sales periods.

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