Winter sales premiere on Monday, January 13, with trade associations saying in announcements that retailers await consumers with “heavy discounts and unique opportunities.”

Everything shows, as the EBEP president comments to APE-MPE, Vassilis Korkidisthat the winter sales, despite the economic fatigue of the holidays, will meet the expectations of merchants and consumers and the purchasing movement will move to better levels than last year, with the aim of retail turnover in the two months, January – February 2025, to exceed 6 billion euro of the corresponding two months last year.

The goal of increasing sales is achievable, continues Mr. Korkidis, mainly due to the 6.4% increases in private sector wages and the reduction of unemployment to 9% in another indication that the pressures on family budgets last year interval begins to steadily weaken. As a positive moment, he mentions the -0.2% monthly drop in food and beverage prices, recorded in our country according to Eurostat, as well as the average -0.94% decrease in the prices of products in supermarkets in December according to IELKA. In addition, Mr. Korkidis emphasizes, discounts can limit inflation from 2.9%, by at least half a unit.

“However, this year, we should aim for the regular winter sales to be extended to more sectors and particularly to services, since the precision has shifted to a great extent, from trade to the provision of services” concludes the president.

“The expectations of the commercial world from the winter sales are high” he points out to APE-MPE Makis Savvidis, vice president of the Athens Chamber of Commerce (ESA) and vice-president of the Hellenic E-Commerce Association (GRECA) and adds: “the adequacy of the products is a given, while the prices that will be offered especially in the clothing/footwear sector will exceed all expectations”. According to Mr. Savvidis, this year the weather with high temperatures for the season was not an ally of businesses. In this context, retailers are gearing up for big discounts in order to stock up as some big players and department stores may have performed strongly over the festive period but the market as a whole does not have the same enthusiasm and overall turnover seems to be lagging in value compared to last year.

As explained by Mr. Savvidis “the Greek consumers during the holidays made more purchases compared to last year but of lesser value. This year they chose more affordable gifts as they spend most of their income (over 50%) on basic necessities.”

Focusing on the overall picture of the market, Mr. Savvidis notes: “The market now moves at two speeds. On the one hand, we have the small and medium-sized business which has serious problems and is constantly losing turnover, while on the other hand, large, multinational companies occupy an increasingly large turnover in the commercial sector. The causes include the complete lack of financing for small and medium enterprises as well as the increased operating costs (energy, professional housing, etc.) that lead to a distortion of the market”.

The priorities for price de-escalation, strengthening healthy competition, informing consumers, market supervision and positive cooperation between the private and public sectors continue to remain on the list of objectives in 2025.

In the meantime, as far as the control of the market is concerned, from the side of the Ministry of Development it is pointed out, at every opportunity, that strict controls are continuous throughout the market, while new digital tools are also used.

It is reminded that during the sales, which will last until Friday, February 28, the stores can also operate on Sundays, January 19 and 26, with suggested opening hours from 11:00 am. until 6:00 p.m.

The trade associations, in their announcements, urge the consumer public to take advantage of the high rates of discounts in all product categories, the high quality level and the very wide range of products while reminding the professionals that, in every announcement about a price reduction, they must the previous price (often referred to as the reference price) on the basis of which the discount is applied is explicitly stated. The prior price is the lowest price the merchant applied to each of its products in the 30-day period before the first discount was applied on January 13.

Especially for the regular discounts, in accordance with the Code of Ethics (YA 66877/30-8-2024) the price reduction can take the following form, always under the condition of mentioning the previous price as defined above:

* Percentage (%), e.g. “20% off”.

* Specific amount, e.g. “10 euro discount”.

* Listing of new (lower) price along with listing of previous (higher) price applied, e.g. “now 50 euros, before 100 euros”. The previous value can be displayed and deleted, e.g. “50 euros 100 euros”.

Further, it is reiterated that prior price means the lowest price applied by the trader during the 30-day period prior to the application of the price reduction. When the product has been on the market for less than 30 days, the previous price is the lowest price during the time the product has been on the market. If the price is progressively reduced during the 60 days prior to the application of the price reduction, the prior price shall be the price in effect prior to the application of the first of the successive price reductions. The 60 day rule is the one used “within” sales. However, a word of caution: In order to use the previous price that was valid before the discounts, there must not be a single price increase within 60 days, even on the reduced prices, as this automatically cancels the previous price before the discounts.

The trade associations request the attention of the commercial world, as according to article 21 n. 4177/2013, those who violate the law are subject to a fine equal to 1% of the annual turnover and in any case not less than 10,000 euros. In the event that the discounts prove to be inaccurate or misleading, a fine equal to 2% of the annual turnover and in any case not less than 20,000 euros is imposed.

What consumers should watch out for

In view of the winter sales n Union of Consumer Workers of Greece recalls some, basic, rights that consumers have during the specific periods in order to make purchases more safely and prudently. Specifically:

-During the execution of the offers, the original and the new reduced price of the products, with reference to the appropriate unit of measurement per product, should be clearly indicated at the points where the offered products are sold.

-Each price reduction announcement indicates the previous price applied by the trader for a specified period of time before the price reduction was applied. Previous price means the lowest price applied by the merchant during a period of time no shorter than 30 days before the price reduction was applied. When the product has been on the market for less than 30 days, the previous price is the lowest price applied by the merchant during a 10-day period before the price reduction was applied. Where the price reduction is progressively increased, the previous price is the price without the price reduction before the first application of the price reduction.

– During discounts, in addition to listing the old and new reduced price of the goods and services sold at a discount, it is also allowed to list and commercialize the discount percentage. If a reduced price is provided for more than 60% of all items sold, the discount percentage provided should be indicated on the shop window and in any other commercial communication, and in the event that there are different discount percentages per product category, it should be indicated the range of the percentage provided (“from …. % to …. %”). In any other case, it will be stated that the discounts concern selected items with reference to the corresponding percentage.

-STOCK or OUTLET stores are required to write on the signs provided for by the applicable provisions: (a) the old sale price, deleted and (b) the new reduced sale price, in a way that communicates to the consumer the clear distinction between the two these prices. Optionally, it is allowed to indicate the percentage of the reduction inside the store and in any other commercial communication with the consumer. During the periods of sales or offers, these stores are obliged to display on the signs all intermediate prices deleted and, in bold type, the new reduced sale price and to indicate in any other commercial communication only the words “sales”, “offers”.

– If the discounts, offers or any price reduction announcement is inaccurate or misleading in terms of the percentage of the discount or in terms of the prices or in terms of the quantity of the products offered at a discount or on offer or involves any form of concealment or deception, at the merchant’s expense a fine of up to 2% of the annual turnover and in any case not less than 20,000 euros. If the trader is fined a second time for the same infringement within a period of five years, the maximum amount of the fine is increased to 4% of his annual turnover.