The Troubling Trend of Decreased Sales During Summer Sales
This year’s summer sales period reveals a worrying trend: a significant decrease in turnover for retail businesses, which is a continuation of the negative trend seen throughout 2024. According to the initial findings of a survey conducted by the Piraeus Merchant Association on market activity during the first month of sales, the overwhelming majority of respondents, 87.5%, reported a decrease in sales.
Impact on Shopping Habits
The research reveals that this decrease in sales is having an impact on consumer shopping habits.
The Impact of Reduced Income on Consumer Behavior During Summer Sales
The decrease in available income for consumers has a direct impact on their shopping habits, with summer sales being no exception. Consumers are more cautious compared to the same period of the previous year, prioritizing basic needs such as food, fuel, and housing, limiting purchases to goods and services that are now considered luxuries.
Inadequate incentives for discounts
Although discounts are particularly attractive, with rates exceeding even the ισχυση των καταναλωτών, πρέπει να αναθεωρήσουν τις στρατηγικές τους για να προσελκύσουν πελάτες. Μια πιθανή λύση είναι η προσφορά ειδικών προσφορών και εκπτώσεων, προκειμένου να δημιουργήσουν ενδιαφέρον και να αυξήσουν τις πωλήσεις.
The Impact of Rising Costs on Consumer Behavior
In today’s economy, consumers are becoming increasingly cautious with their spending habits. The continuous increase in the cost of living, driven primarily by inflation and skyrocketing energy prices, has led to a significant decrease in their disposable income, resulting in them drastically limiting their purchases. Consumers are proving to be wary, concerned about future economic prospects, and only making purchases when absolutely necessary.
Businesses, affected by the reluctance of consumers, must rethink their strategies to attract customers. One possible solution is to offer special deals and discounts to generate interest and increase sales.
The need for government support in the digital transition
Greece is currently facing an energy crisis and is called to cope with the challenges of digital transformation. Immediate support from the government is necessary in order to design and implement long-term policies that will enhance the competitiveness of the Greek economy and create a favorable environment for entrepreneurship.
