Expectations of the commercial world for a turnover of more than 6 billion euros
They start winter sales from Monday January 8 and will last until the end of February, with optional operation of the commercial stores on Sundays January 14 and 21, 2024.
According to the traders’ statements, after a relatively satisfactory festive period, the discount period is expected to give a new impetus to sales and the turnover of this year’s two months will exceed the approximately 6 billion euros of the corresponding period last year, while the Ministry of Development recalls that controls are continuous and intensive throughout the market.
The commercial world urges the consumer public to take advantage of the high percentages of discounts in all categories of items, while in the announcements of the trade associations, the professionals are reminded that in each announcement of a price reduction, the previous price applied by the merchant for a specified period of time before the price reduction is applied.
It is noted that the previous price means the lowest price applied by the merchant during the 30-day period before the price reduction was applied. When the product has been on the market for less than 30 days, the previous price is the lowest price applied by the merchant during the time the product has been on the market. Where the price is progressively reduced during the 30 days prior to the application of the price reduction, the previous price shall mean the price in force prior to the application of the first of the successive price reductions.
It is also emphasized that, in the event of an audit, traders must be able to prove that the old sales price indicated on the sign corresponds to reality, as those who violate the provisions on discounts and reduced prices are subject to a fine of an amount equal to 1% of the annual turnover and in any case not lower than 10,000 euros. In the event that the discounts prove to be inaccurate or misleading, a fine equal to 2% of the annual turnover and in any case not less than 20,000 euros is imposed.
As the president of the Piraeus Chamber of Commerce and Industry Vassilis Korkidis told APE-MBE: “The festive market was satisfactory for the commercial world as it completed the annual sales of 2023 with a single-digit increase in retail trade. Accordingly, merchants expect the new year to start with a positive sign, with regular winter sales, both for commercial businesses and consumers. Consumer preferences during the regular winter sales are well established and shopping habits focus on personal and family shopping. At least as far as the Attica market is concerned, what is confirmed by most stores is that there are enough stocks, while clothing and footwear stores will once again be the first in traffic, with shopping traffic focusing on winter clothing. As every year, the interest of consumers is expected to be attracted this year by branded products, as well as household appliances, furniture and all household items. Everything shows that the winter sales will meet the expectations of the market and we will have a buying movement at better levels than last year. We hope that the discount market will not be affected this year by the economic fatigue of the holidays and punctuality, after all, by the de-escalation of energy costs, as well as the increase in monthly disposable income from 1/1/24. The goal of the turnover in this year’s two months, January – February 2024, is to exceed the approximately 6 billion euros of the corresponding two months last year. The retail sales growth target is expected to be met mainly due to pay rises for 660,000 civil servants after 14 years, a 3% increase for nearly 2 million pensioners and an increase in wage earners since the three-year freeze. Finally, I point out that the phenomena of profiteering or consumer deception are mainly observed where the consumer’s choices are defined and limited. It is positive that last year during the discount period in the Attica market, where most checks were carried out, the delinquency decreased in complaints and fluctuated at a lower rate of 6%. This year again the goal is to reduce it to zero by any means that strengthens consumer protection mechanisms such as the correct information and the consistency of every shopkeeper in every small or large market of Attica, regardless of the size and reputation of the commercial enterprise.”
