Summer sales in Greece will begin on July 13: what buyers need to know

Summer sales in Greece will begin on Monday, July 13and will last until August 31. Trade is counting on tourists and a cautious recovery in demand.

The fifty-day discount period is considered the main shopping season of the summer and the first serious indicator of how the retail market will develop in the second half of the year.

According to the circular Greek Confederation of Trade and Enterprisestores must adhere to transparent pricing rules.

How should the discount be indicated?

When announcing a discount, the seller must show previous or reference price. It refers to the lowest price at which a particular product was sold within 30 days before the decline began.

The discount can be indicated as a percentage, a specific amount, or using the old and new prices. However, the law does not allow you to arbitrarily increase the old price immediately before a sale and then solemnly cross it out.

Buyers are advised to compare prices in different stores and not be guided only by the large inscription “−50%”. The real benefit is shown by the final cost of the product and its price in previous weeks.

Stores will be able to open on July 19

On the first Sunday after sales start, July 19shops will be able to open as desired. Suggested opening hours by law are 11:00 am to 8:00 pm, although local trade associations may recommend shorter hours.

The market expects a turnover of up to 7.4 billion euros

According to the Piraeus Chamber of Commerce and Industry, the total turnover during the summer sales period could be between 7 to 7.4 billion eurosincreasing in nominal terms by 2–5% compared to last year.

At the same time, the physical volume of sales, that is, the actual number of goods purchased, can grow by only 0–2%. This means that part of the increase in turnover will not be due to a buying boom, but to higher prices.

The main hopes of the trade sector are associated with the tourist flow in Athens, Piraeus, Thessaloniki and popular resort areas. At the same time, the disposable income of Greek households remains limited, so most buyers are expected to continue to carefully compare offers.

Editorial comment

A sale in itself does not guarantee a bargain. The main guideline is the lowest price of the product over the previous 30 days, and not an impressive percentage on the display. The larger the discount is written, the more carefully it is sometimes worth looking at the small numbers.

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