The retail sector is gearing up for its annual summer discount season, hoping to attract shoppers with the promise of deals and bargains. However, the industry is facing a challenging landscape, with persistent pressure on household budgets and rising costs affecting consumer spending. Despite these obstacles, retailers are pinning their hopes on a combination of pre-holiday shopping, strong tourist arrivals, and relatively mild summer weather to boost sales.
The sales period, running from July 19 to August 31, is expected to see a 2% to 5% increase in turnover, pushing total sales to over 7 billion euros. This optimistic outlook is underpinned by the introduction of a 3-euro fee on small parcels imported from non-EU countries, which has already contributed to a decline in purchases from overseas e-commerce platforms, particularly Chinese online marketplaces. However, this positive development is offset by rising fuel and food prices linked to the recent conflict in the Middle East, which has squeezed disposable incomes and forced many consumers to scale back on discretionary spending.
Official data from the Hellenic Statistical Authority (ELSTAT) reveal a modest growth in retail activity, with retail turnover reaching 17.11 billion euros in the first quarter of 2026, up 3.2% from the previous year. Excluding food, vehicles, and fuel, retail turnover rose 2.2% year-on-year to 5.88 billion euros. Performance varied significantly by business size, with small and medium-sized enterprises posting a 1.1% increase in turnover, while the smallest businesses, employing up to 10 people, recorded a slight 0.1% decline.
Medium-sized companies with up to 250 employees and annual revenue exceeding 10 million euros saw a more substantial 7.4% increase in turnover, or 8.3% excluding food, vehicles, and fuel. Monthly figures for April showed overall wholesale and retail trade turnover increasing 6.7% from the same month in 2025, although these data primarily reflect larger businesses required to submit monthly financial reports.
Retailers are also counting on foreign visitors to play a crucial role in this year's sales season. Spending by tourists from both European Union member states and non-EU countries, including tax-free purchases by eligible visitors, is expected to support demand, with Greece remaining a comparatively affordable shopping destination for many travelers. Tourism indicators have strengthened in recent months, with international air arrivals increasing 5% between January and May compared with the same period in 2025, rebounding strongly in May after a slowdown in April.
Travel receipts rose 36.9% year-on-year during the first four months of 2026 to 2.79 billion euros. Revenue from visitors from EU countries climbed 38.7% to 1.37 billion euros, while receipts from travelers from outside the bloc increased 37.5% to 1.33 billion euros. The Bank of Greece is scheduled to release May tourism revenue data on July 22.
In conclusion, while the retail sector is facing challenges, it is optimistic about the summer discount season. The introduction of a 3-euro fee on small parcels imported from non-EU countries has contributed to a decline in purchases from overseas e-commerce platforms, and rising fuel and food prices have squeezed disposable incomes. However, strong tourist arrivals and relatively mild summer weather are expected to boost sales, and retailers are counting on foreign visitors to play a crucial role in this year's sales season. The industry is also benefiting from the fact that Greece remains a comparatively affordable shopping destination for many travelers.
