Discounts: Malls and the center of Athens are the winners – Rapisma for the neighborhood stores

By Giorgos Lampiris

Far from the performance of 2019 despite the fact that the image of this year’s discounts was better than that of the corresponding period of 2021, the sales of the commercial stores of Attica remained, as shown by the expanded research of the Athens Chamber of Commerce and the Athens University of Economics which was carried out with the participation of 417 points of sale. More specifically, 6 in 10 businesses recorded lower sales this year compared to 2019 sales (59.8%), while 6 in 10 businesses (57.7%) saw better turnover performance compared to 2021. Plus on the other hand, another element that emerges is that 3 out of 10 businesses were directly and positively affected in terms of their sales by tourism.

Downtown shops and malls are favored by tourism – Opposite picture in neighborhood and regional markets

At the same time, 4 stores out of 10 that operate in places that attract tourist traffic, either in the center of Athens near the Acropolis circle, or in shopping centers (malls), significantly increased their turnover from foreign visitors.

The wider center of the capital and more specifically the district markets of Athens as well as the regional markets which represent 63.5% of the sample and are not affected by tourism, faced a serious problem. As can be seen from the result, the minimum disposable income of Greek consumers could not stimulate the turnover.

The sales turnover of 2022 compared to 2019

-Best turnover over 51%: 0.0%

-Better turnover than 26%-50%: 1.2%

-Better turnover than 11%-25%: 1.7%

-Best turnover up to 10%: 11.3%

-Worst turnover up to 10%: 22.1%

-Worse turnover than 11%-25%: 22.3%

-Worse turnover than 26-50%: 13.7%

-Worse turnover than 51% and above: 1.7%

-I don’t know I don’t answer: 5.6%

The sales turnover of 2022 compared to 2021

-Best turnover over 51%: 1.4%

-Better turnover than 26%-50%: 5.3%

-Better turnover than 11%-25%: 20.1%

-Best turnover up to 10%: 30.9%

-Same turnover: 19.7%

-Worst turnover up to 10%: 10.3%

-Worse turnover than 11%-25%: 6.5%

-Worse turnover than 26%-50%: 4.8%

-Worse turnover than 51% and above: 0.0%

-I don’t know, I don’t answer: 1.0%

Dominant role in shaping the turnover for clothing and footwear stores

The research sample includes self-employed, small, medium and large businesses with activity in Athens, in the district and regional markets as well as in all large organized markets (malls). Companies participated, of which 53.5% are active in the field of clothing, footwear and the sale of sports goods and accessories and 24% in the sale of electrical, electronic and tourist products. In addition to the others, however, optical, textile and white goods companies, shops selling watches, jewelry and trinkets as well as points of sale of gifts and household products participated. It should be noted that clothing and footwear stores play a dominant role in the formation of turnover in retail and also during sales, given that they are the most numerically of all the other categories.

Business origin

– Athens Center: 46.3%

-Commercial areas outside the municipality of Athens: 38.4%

– Neighborhood markets of the municipality of Athens: 15.3%