2023-08-31 12:29:15
“Pale” was the image of the market during the summer sales this year, based on survey data from the Athens Chamber of Commerce as 1 in 2 (50.4%) said a worse turnover compared to 2022, 1 in 3 (31.3 %) saw the same funds and less than 1 in 5 (18.3%) reported an increase in turnover.
As the ESA reports in its analysis, “the hope for climate change and optimism for a return to growth recorded in the corresponding ESA survey at the end of February 2023, where approximately 60% recorded an expectation of an increase in sales the next semester, it now turned into worry and reflection.
In other words, expectations are now equally divided in all three possibilities: increase, decrease or stay at the same turnover levels, without registering a dominant trend in the market.
It seems that in this particular time period the lack of disposable family income, the increase in food prices, the current increase in fuel combined with the ongoing global economic uncertainty, make it difficult to predict the behavior of the consumer public in the next six months.”
The sales
Specifically, based on what the interviewed merchants answered about the summer sales:
best turnover declared by …….… 18.3 %
same turnover declared by………………… 31.3 %
worst turnover declared by…….… 49.2 %
Based on February 2023 comparative data:
best turnover declared by …….… 48.2 %
same turnover declared by………………… 20.3 %
worst turnover declared by…….… 31.4 %
In detail, in relation to the question about the turnover recorded this year in the summer sales:
Better turnover than 51% or more had ………………..…… 0.0 %
A better turnover than 26-50% was ……………………..….. 2.5 %
Better turnover than 11-25% had …………………..…..…… 6.0 %
A better turnover of up to 10% was had by ……………………….…… 9.8 %
Same turnover, it had …………………..…………….……………… 31.3 %
Worse turnover up to 10% had ………… ………………. 20.5%
Worse turnover of 11-25% had ………………………..…. 20.3%
Worse turnover than 26-50% had ………………….……… 7.5 %
Worse turnover of 51% and below had …………….……. 0.9%
I don’t know, I don’t answer, answered the ……………………………. 1.2%
It should be noted that in relation to sales expectations for the next six months.
26.5% of respondents answered that they will increase
37.2% of respondents answered that they will remain stable
26.8% of respondents answered that they will decrease
9.5% of the respondents answered that they do not know / do not answer
Based on the ESA “the comparison was made with the turnover of the corresponding discount period of 2022 and we must take into account that the weather phenomena (heat conditions) that hit the country in the first weeks of the discounts, where traditionally the biggest turnover is made in stores, the accuracy of food prices and the reduced disposable income, formed a negative climate in the market.
The results of the survey show at least concern and anticipation as the surrounding international economic situation still remains unpredictable.
The majority of our respondents pointed out that compared to 2022, we need to factor in inflation and add the increase in business operating costs due to energy and increased borrowing costs.”
S. Kafounis: “Perhaps the time has come for the basket of banks.”
On the occasion of the results of the investigation of the Athens Chamber of Commerce on the turnover of the stores during the summer sales period, the president of the Athens Chamber of Commerce Stavros Kafounis said:
“The real economy – as expressed through the strongest branch of the Greek economy – shows that although the difficult times are definitely behind us, there is still a lot to do.
The results of our six-monthly survey, which due to its validity and the huge sample has now gained a lot of weight, lay the foundations for a fruitful dialogue, based on evidence that cannot be disputed.
Unforeseen factors that eventually lurk, such as the prolonged heatwave of July, combined with the limited disposable income of Greeks as well as foreign consumers led the sales of small, medium and large commercial points to decline for almost one in two merchants.
This drop, combined with the increase in the operating expenses of all businesses, raises concerns about the future. It is also expressed in the optimism index which, from the 61% that had formed after the end of the winter sales, has decreased today to 26%.
That is why now is the time for action, with strong interventions: income support, especially for our vulnerable fellow citizens, balanced increases that will stimulate disposable income while simultaneously further reducing tax and insurance burdens that will improve the competitiveness of the economy, are actions that must be taken immediately.
However, in the question of which is the most important factor that burdens the operating costs of businesses, the banking sector comes first – with a percentage of 40%.
Banks, not only do not finance, but also where this happens they recklessly burden customers, thus strengthening the suffocation towards businesses.
Finally, now is the time to perhaps create the “Basket of Banks” along the lines of the other baskets, to finally put a brake on the exorbitant costs weighing on the real economy and give it a breather that will allow healthy entrepreneurship to grow strongly .
We will immediately take initiatives in this direction because you do not allow conditions of unfair competition, sometimes from the Super Markets and sometimes from the Banks, to take away precious oxygen at a time when it is possible for private initiative to take off for the benefit of the economy and society” .
The tourism
Another interesting finding of the research is the recording of the contribution of tourism to the coffers of the commercial enterprises of Athens and the wider region.
“Here it seems that in half of the points of sale, tourism does not contribute to their turnover, either because they do not operate in a tourist area or because the product (e.g. furniture, mattress, etc.) does not meet the needs of foreign consumers”, says YOU and adds:
“More than 1 in 3 shops owe up to 25% of their funds to tourists and the rest who declare more than 50% or even their entire turnover to tourism, are active in purely tourist markets such as Plaka, etc.
Nevertheless, the analysis of the research data showed that in the tourist area, despite the large number of tourists, the turnover not only does not increase proportionally but shows an average decline”.
The costs
In the last question regarding costs that currently significantly affect the operation of businesses, the stigma is clear according to the ESA:
Almost 40% point to the functioning of the banking system, referring to the increase in borrowing costs and the uncontrolled charging of commissions, in all banking transactions (POS, Checks, Transfers, etc.)
In second place are the costs of rent (19%) and energy/transportation (16.8%). The contact with the shopkeepers highlighted the problem of the high demands of the owners, especially in cases of lease renewals.
Finally, taxation (8%), payroll (8.3%) and non-salary costs/contributions (5.8%) follow, with a lower impact on business operations.
The above results show that the general functioning of the banking system must be streamlined, in order to be able to support the creative and extroverted commercial enterprises of the country.
The online store
It should be noted that according to the results from the respondents, 70.3% answered that they have an active online store, 27.5% of the respondents answered that they do NOT have an active online store, while 2.2% did not answer.
The responses of the stores that stated that they have an active online store show that:
The turnover of the e-shop corresponds to 10% of the total, to 59.6% of the respondents.
The turnover of the e-shop corresponds from 11-25% of the total, to 27.7% of the respondents.
The turnover of the e-shop corresponds from 26-50% of the total, to 7.0% of the respondents.
The turnover of the e-shop corresponds to 51% or more of the total, to 1.1% of the respondents.
4.6% of respondents did not answer.
According to the results:
44.8% of the respondents have a store in the center of Athens.
7.0% of respondents have a store in the Tourist area (Plaka – Monastiraki)
14.7% of the respondents have a store in the Regional Markets of the Municipality of Athens.
33.5% of the respondents have a store in commercial areas outside Athens
The identity
It is noted that the Athens Chamber of Commerce presented the results of the survey for the summer discount period of 2023, which began on Monday, July 10 and ends on Thursday, August 31, 2023.
As part of the cooperation agreement between the Athens Chamber of Commerce and the Athens University of Economics and Business, this research was put under the auspices of the OPA with the scientific supervision of Professor G. Baltas, Director of the Marketing Research Laboratory.
The research was carried out in the following areas: Center of Athens Tourist area (Plaka – Monastiraki) Regional Markets of the City of Athens Commercial areas outside of the City of Athens.
The sample includes self-employed, small, medium and large Greek commercial enterprises, active in Athens, in the regional markets of the City of Athens and in all shopping centers (Malls).
The research sample consists of 400 points of sale.
George Alexakis
Source: Reporter.gr
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