Summer sales: countdown to their end

The countdown to the end of the summer discount period on August 31 has begun.

The announcement of the Hellenic Confederation of Trade and Enterprise reads: “According to paragraph 2a of article 15 of Law 4177/2013, as amended by Law 5039/2023, each notice of a price reduction indicates the previous price applied by the trader within a certain period of time before it was applied price drop.

A price reduction announcement, under paragraph 8 of Chapter 2 of the new Code of Ethics for Price Cut Announcements (YA 35935/13-4-2023), is any announcement by an entrepreneur that he has reduced the price of a product in the following form:

• Any percentage (%), for example: “20% discount”.
• Or a specific amount, for example: “10 euro discount”.
• Or you need to specify a new (lower) price along with an indication of the previous (higher) applied price, for example: “now the price is 50 euros, and before it was 100 euros” or “50 euros / 100 euros”.

The previous price means the lowest applied by the seller during the 30-day period prior to the reduction. If the product has been on the market for less than 30 days, the previous price is the lowest price applied by the seller during the time the product was on the market. If the price is gradually reduced over the 30 days prior to the application of the price reduction, the previous price means the price that was in effect before the first of the successive reductions was applied.

https://rua.gr/news/bissecon/56102-letnie-rasprodazhi-kogda-sostoitsya-premera-iv-kakoe-voskresene-magaziny-budut-otkryty.html

Merchants are urged to pay particular attention to compliance with discounts and reduced prices, otherwise they face penalties. In particular, according to article 21 of Law 4177/2013, violators are subject to a fine of 1% of the annual turnover and, in any case, not less than 10,000 euros.

In an aggravated case, if the discounts are found to be inaccurate or misleading, a fine of 2% of the annual turnover, but not less than 20,000 euros, will be imposed.

Source link