Greece’s Retail Sector Shows Fragile Growth

08:38 24/5/2025 - Πηγή: Dikaiologitika

According to recent data released by the Hellenic Statistical Authority (ELSTAT), total retail turnover reached €16.16 billion—just 0.6% higher than the €16.07 billion recorded in the same period of 2024.

Greece’s retail sector posted only a marginal increase in turnover during the first quarter of 2025, raising concerns about the strength and sustainability of the country’s economic recovery.

According to recent data released by the Hellenic Statistical Authority (ELSTAT), total retail turnover reached €16.16 billion—just 0.6% higher than the €16.07 billion recorded in the same period of 2024. Though technically an improvement, the figures reflect more of a plateau than genuine progress, suggesting stagnation in consumer activity and business performance.

Even when excluding the traditionally volatile sectors of motor vehicles, food, and fuel—categories often omitted to better gauge the core dynamics of the retail economy—the increase was just 1.2%. Analysts caution that such a modest rise does little to signal a broader market rebound. Instead, the numbers expose deepening imbalances across both business sectors and geographic regions, raising questions about the overall health of retail trade in Greece.

Some niche categories showed surprising resilience. Notably, outdoor retail sales of textiles, clothing, and footwear surged by 33.4%, while the trade in second-hand goods rose by 30.7%. These gains are interpreted as signs of shifting consumer habits, with many Greeks likely turning to more cost-effective options amid ongoing financial pressures. However, these bright spots were counterbalanced by steep declines in other key areas. Sales of telecommunications equipment fell sharply by 14.6%, and printed media dropped 8.5%, trends that reflect both the ongoing digital transformation and the struggles of certain sectors to keep pace.

Geographic disparities further complicate the picture. While some of Greece’s more economically robust regions—such as Attica, which includes Athens, and the island of Crete—saw slight growth, others like Thessaly and Eastern Macedonia and Thrace experienced significant downturns. This uneven recovery underscores the lack of cohesion in the rebound and highlights the vulnerabilities faced by more rural or less developed areas.

Perhaps most worrying is the continued pressure on small and medium-sized enterprises (SMEs), which are often described as the backbone of the Greek economy. These businesses saw their turnover decline by 2.1% overall, and by 1.1% even in the adjusted subset of the sector. Such figures suggest that SMEs are still struggling to regain pre-crisis momentum and remain highly sensitive to shifts in consumer behavior and macroeconomic uncertainty.

#GROWTH #ΕΛΣΤΑΤ #RETAIL
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