Retailers across Greece have expressed deep disappointment with the performance of this year’s summer sales, citing weak turnover and mounting pressure on small and medium-sized enterprises (SMEs). The Athens Chamber of Commerce and Industry (ACCI) highlighted that the seasonal discount period failed to benefit SMEs, with 71.3% of surveyed businesses reporting lower sales compared to last year.
A Weaker-Than-Expected Season
According to Vasilis Korkidis, President of the Piraeus Chamber of Commerce and Industry, the final sales tally for the summer discount period—set to conclude on 31 August—is expected to reach €7.1 billion, falling short of the initially projected €7.4 billion. His remarks, made to the Athens-Macedonian News Agency (AMNA), underscore a broader trend: a recent survey by the Piraeus Chamber found that 55% of businesses recorded lower turnover than in 2025, 33% reported flat results, and only 12% saw growth. A striking 73% attributed sluggish demand primarily to constrained purchasing power.
Korkidis emphasized that the traditionally strongest month—July—was notably underwhelming, despite a modest 2.8% increase in retail turnover during Q2. He noted that many businesses experienced steeper declines in August compared to last year, compounded by consumers’ preference for holidays and unmet expectations for a robust rebound.
Calls for Institutional Overhaul
Beyond disappointment, the ACCI voiced strong dissatisfaction with the current regulatory framework governing discounts and promotions. It reported that 98% of SMEs are calling for reform—specifically, stricter rules on promotional pricing. Stakeholders argue that amending Law 4965/2022 could restore credibility and commercial relevance to officially sanctioned discount periods.
ACCI President Thanos Tsaggaris urged the government to support SMEs facing rising operational costs and intensifying unfair competition from large retail chains and e-commerce platforms. He stressed that seasonal sales remain a vital tool for SMEs to clear seasonal inventory—but warned that the institution has been effectively undermined by the current legal environment, which allows for continuous, unregulated promotions.
“Without urgent and meaningful intervention,” Tsaggaris cautioned, “a large portion of SMEs—especially those operating in regional markets—may not survive the next two to three years.”