Traders’ expectations for better receipts during the summer sales period, which ends on Saturday, August 31, were denied, while what is even more worrying is that they do not expect anything better for the next period either, according to the survey of summer sales by the Athens Chamber of Commerce ( YOU).
In more detail, about 8 out of 10 declared worse and the same turnover compared to last year, with the ESA noting that these findings show at least concern and anticipation, as the surrounding international economic situation still remains unpredictable.
As pointed out, the research sample, which was carried out in collaboration with the Athens University of Economics and Business under the scientific supervision of Professor G. Baltas, is large (410 points of sale) and representative. It includes the self-employed, small family businesses, chain stores as well as several stores operating in large shopping centers (malls).
The comparison was made with the turnover of the corresponding discount period of 2023 and we must take into account that the weather phenomena (continuous heat conditions) that hit the country in the first weeks of the sales, where traditionally the biggest turnover takes place in the stores, the accuracy of the prices in food and reduced disposable income, formed a negative climate in the market.
Fewer optimists
If we compare the Optimism Index of the current survey with the corresponding one of February 2024 we will see that the percentage of those who believe that the market situation will improve in the next 6 months is 14.2% lower. Bottom line: More than 1 in 2 (58.7%) reported worse turnover compared to 2023, nearly 1 in 5 (19.8%) saw the same funds, and just over 1 in 5 (21%) reported an increase in turnover . 
In summary, about 8 out of 10 reported worse and the same turnover compared to last year.
The majority of the stores in the sample (6 out of 10) belong to the category Clothing – Footwear – Accessories which have a primary role in the discount period.
It seems that in this particular time period the lack of disposable family income, the increase in food prices combined with the ongoing global economic uncertainty, make it difficult to predict the behavior of the consumer public in the next six months.
Digital card problem
Regarding the factor that currently significantly affects the operation of businesses, the stigma is clear according to the results of the survey: 40% point to the implementation of the digital job card and the connection of cash registers and POS as the biggest problem with AADE, mainly due to problems with the internet connection.
26% point to the functioning of the banking system, citing rising borrowing costs and rampant commission charges across all banking transactions (POS, checks, remittances, etc.)
Finally, the taxation of self-employed and professional imputed income is a big problem for 16.8% of respondents.
The above results show that the general operation of the banking system must be rationalized, in order to be able to support the creative and extroverted commercial enterprises of the country, is pointed out by the Athens Chamber of Commerce.
“Trade needs bold interventions, not threats”
On the occasion of the results of the investigation of the Athens Chamber of Commerce on the turnover of the stores during the summer sales period, the president of the Athens Chamber of Commerce Stavros Kafounis said:
«We are very proud to present to the state and to our colleagues the now well-established, six-monthly survey of the Athens Chamber of Commerce, which records in a scientific way – and always in collaboration with the Athens University of Economics – the results of the discount period in retail trade, based on a huge sample of different disciplines and areas.
As usual, the results describe what all professionals in the field experience every day. A battle for survival in a regime of fierce competition, where – depending on the region, the sector and the connection with tourism – we observe great differences, but the conclusion is one: the organized, healthy trade, the one that looks the consumer in the eye and does not need from threats and punitive fines is the one who implements what is asked of him by the State and with unique conscientiousness.
For this reason, next week on the occasion of the Prime Minister’s announcements at the TIF, we will position ourselves as usual with seriousness and determination in favor of the strongest sector of the Greek economy, demanding specific brave interventions».
Source: ot.gr
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