Consumers in Greece are getting ready for the mid-term sales of Autumn which are scheduled to kick off on November 1st and last for the first 10 days of November.
After the first discount period of November, shoppers will have the chance to save even more money, as Black Friday and Cyber Monday follow on November 22 and 25 (Cyber Monday only online shopping), respectively.
Although both Black Friday and Cyber Monday are one-day bargains, Greek stores typically extend the duration for discounted products from 3 to 5 days, or even longer.
The Athens Chamber of Commerce has urged businesses to pay particular attention to the following:
– A clear indication of both old and new price tags is mandatory.
– Discount rates may also be communicated to customers via a percentile.
– If there are different discount rates per product category, the range of the percentage provided (“from ….% to ….%”) should be indicated. In all other cases, it will be stated that discounts are for selected products with reference to the corresponding percentage.
– Owners should, in the event of an audit, be able to prove that the old sales price on the card corresponds to reality.