It may be that many retail storefronts are rolling down their shutters due to the summer holidays as we approach the “fifteenth of August” and make appointments for September, but the virtual storefronts of electronic stores (e-shops) never close! And they are not few, as according to figures that have seen the light of day, digital sales channels (e-shops) in Greece have exceeded 18,000 in number with a turnover exceeding 14 billion euros per year (2021), according to data given by Giorgos Doukidis, professor of Electronic Business at the University of Economics.
Based on European data, e-commerce in our country has great prospects for further development and its turnover can reach 20 billion euros, while the number of companies with an organized digital sales channel can reach 30,000 in the medium term.
In addition to the increase in the number of online stores, an increase in their turnover is also recorded, even during the summer months, a fact that is also confirmed by data from the Greek multinational company Generation Y, which operates precisely in this field of integrated digital solutions transformation and e-business.
In particular, in electronic pharmacies and in the fashion and sportswear sectors, there is a steady increase in total turnover for the months of May – August, compared to the same period, from 2019 to 2021.
More specifically, May is traditionally a strong month for sales, seeing a slight drop of 10-15% from May to June. However, the downward trend is reversed in July, where an increase of 10-25% is recorded, making July the “winner” in terms of purchases in terms of the pure summer season.
The interesting thing is that for this year July exceeded the turnover levels of every other year (despite accuracy, inflation and all the new challenges), recording a 34% increase compared to July 2021 (Year on Year – YoY) and 20% up from May 2022. These figures portend a strong August for e-commerce revenue.
So, at the same time as they refresh their physical store while they remain closed for the summer, taking into account the positive messages from the operation of e-shops, the number of businesses that are planning their next step and specifically the investment in their electronic channel is increasing .
But from which sectors of the economy and trade is there the greatest interest in opening online stores? According to data from Generation Y, the interest is observed from all retail sectors, with that of clothing/footwear leading the way. At the same time, however, the interest of wholesale companies in digital transformation and the launch of an online wholesale store for their network of partners remains undiminished. However, the number of businesses that are active in wholesale and wish to join the retail sales channel through the digital market is not negligible.
As the owner of a small and medium-sized retail business in the clothing sector with more than 4 decades of activity characteristically reports to APE/BPE, new technologies, alternative digital sales channels, combined with new ways of trading, are forever changing the structure of trade as we knew it until today. The virtual storefront acquires the same and greater value than the traditional storefront that many generations of people have known.
I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.