Greek retailers reported a decrease in turnover in January

Overall turnover in the Greek retail trade decreased by 2.3% in January 2024, compared to the same month the previous year, new data from the Hellenic Statistical Authority (ELSTAT) has found.

On a month-on-month basis, turnover was down 24.1%, given that December is typically a period of increased spend.

In volume terms, retail decreased by 8.9% in January 2024 compared to the same month the previous year, while volumes were down 22.4% on a month-on-month basis.

In January 2024, the seasonally adjusted overall turnover index experienced a decline of 5.3% compared to December 2023. Similarly, the seasonally adjusted overall volume index in January 2024 also decreased, with a drop of 5.8% compared to December 2023, ELSTAT noted.

Sales performance by category

On a turnover basis, the food sector saw a 1.0% increase in January 2024, compared to the same month the previous year, while automotive fuel experienced a decrease of -3.9%. The non-food sector, excluding automotive fuel, declined by -4.4%, whereas supermarkets witnessed a modest growth of 0.9%. Conversely, department stores faced a significant decline of -6.1%.

Sales of food, beverages, and tobacco increased by 2.3%, whereas pharmaceutical products and cosmetics declined by -5.3%. Clothing and footwear sales decreased by -3.1%, while furniture, electrical equipment, and household items experienced a substantial drop of -9.7%. Books, stationery, and other goods showed a slight increase of 0.3%.

In volume terms, the food sector experienced year-on-year decline of -5.5% in January 2024, while automotive fuel saw a slight decrease of -0.2%. Non-food sector sales, excluding automotive fuel, declined significantly by -20.0%.

Supermarkets saw a drop of -6.7%, and department stores faced a substantial decline of -21.3%. Sales of food, beverages, and tobacco decreased by -4.5%, while pharmaceutical products and cosmetics saw a decline of -7.3%.

More information can be found on the ELSTAT website.