With promotional actions and offers already having started dynamically in a large part of the market, merchants are now looking forward to the official start of the summer sales on Monday, July 13, hoping that they will constitute the first substantial boost for consumption in the second half of the year.
It is recalled that the summer sales will last until the end of August and according to the legislation, stores may operate, optionally, on the first Sunday of the discount period, on July 19, while during the sales businesses are obliged to clearly indicate the previous and the new reduced price of the products, as well as the discount percentage, where this is stated.
Estimates by the business world speak of turnover that may be formed between 7 and 7.4 billion euros, recording a nominal increase of 2% to 5% compared to the corresponding period last year. However, as market representatives point out, the issue is not only the increase in turnover, but mainly the strengthening of real consumption, as Greek households continue to be pressured by the increased cost of living.
“The summer sales of 2026 constitute the top commercial period of the summer and the first substantial barometer for the course of the market until the end of the year”, says to APE-MPE the president of the Piraeus Chamber of Commerce and Industry, Vasilis Korkidis.
As he states, the expectations of the business world are cautiously optimistic, as the increased tourist traffic can give a significant boost to consumption, without however negating the pressures that Greek households continue to face from the increased cost of living. According to the estimate of the PCCI, the total turnover of the summer sales may be formed between 7 and 7.4 billion euros, noting a nominal increase from 2% to 5% compared to last year.
Mr. Korkidis stresses, however, that the real measure of the market is not only receipts. “What has real significance is not only turnover, but the increase in the volume of sales and the strengthening of real consumption. The Greek market does not simply need higher receipts, it needs more consumers in stores. This is the real measure of recovery”, he notes.
At the same time, he points out that Greek commercial businesses have proven their resilience and adaptability, continuing to invest in quality, reliability and the service experience, despite the increased operating cost, the squeezing of profit margins and intense international competition.
As he states, tourism can be the catalyst for this year's sales, as the increased visitor traffic in Athens, Piraeus, Thessaloniki and the major tourist destinations creates conditions for strengthening retail consumption and spreading revenues into the real economy.
He also places particular emphasis on developments in e-commerce, describing as important the European initiatives to address distortions in cross-border e-commerce. As he notes, the implementation of equal rules for all businesses is a basic prerequisite for healthy competition and protection of both consumers and the organized market, while he points out that fast commerce platforms from third countries continue to be the main competitor of the domestic market, despite the imposition from July 1 of the 3-euro fee on the relevant shipments.
At the same time, he calls on consumers to make use of the sales prudently, carrying out market research and choosing Greek businesses, emphasizing that every purchase from a legal Greek store supports employment, strengthens public revenues and returns value to the national economy.
In addition, he asks the state to continue the reforms that reduce the operating cost of businesses, strengthen liquidity, address unfair trade and shape a stable business environment. “Trade does not ask for preferential treatment. It asks to compete under the same rules as all those active in the European market”, he characteristically stresses.
For his part, the vice president of the Athens Chamber of Professionals and of the Athens Commercial Association, Nikos Koyiumtsis, points out in his statements that the summer discount period is an opportunity both for increasing business turnover and for consumers to make purchases at more affordable prices.
At the same time, he states that the market continues to show a sluggish picture, a fact which, as he estimates, is due to reduced purchasing power, low wages, limited pensions and the increased cost of living that limit households' capabilities.
As he states, interventions are required such as the reduction of VAT on basic food items, the reduction of the special consumption tax on fuels and the intensification of market inspections, while he notes that small and medium-sized businesses are asking for an equal operating framework vis-à-vis large chains and fair terms of competition both in physical and in electronic commerce.
Meanwhile, ahead of the first Sunday of the summer sales, on July 19, the Federation of Private Employees of Greece has declared a nationwide strike, with main demands being the safeguarding of Sunday holiday, the signing of a sectoral collective labor agreement and wage increases.
SOURCE: APE