“On a positive note, despite the “entrenched” accuracy, which was also reflected in this year’s festive market and acted as a barrier to “impulse buying”, the assessment of festive market activity for this year closes on a positive note.”

This is according to a statement from the Piraeus Chamber of Commerce and Industrial Chamber of Commerce, while according to data from the chamber’s studies department, the following figures emerge:

– The festive market is characterized as satisfactory in terms of traffic and sales this year, with a first estimate showing a +6% average increase in turnover in the retail market from last year.

– We have definitely exceeded the 4 billion euro turnover bar in December and we await confirmation of the increase from official ELSTAT data.

– The Christmas market with a 25% share determines the annual turnover of many sectors and businesses in the retail sector.

– The payment of the increased Christmas gift to 4 million private sector employees, estimated at close to 1.2 billion euros, was also a catalyst this year due to the reduction of unemployment to 9% and a wage increase of at least 6.4%.

– The Greek market moved at multiple speeds by region, choice and disposable income, but with a common characteristic of cautious and “careful” consumers.

– Two speeds in shopping traffic in retail stand out, with +8% growth in turnover for chains, department stores, hypermarkets and shopping centres and +4% for individual smaller stores.

– 60% of shopping traffic is recorded before Christmas and 40% before New Year. In the 18-29 age group, 7/10 shopped, while 5/10 in the 50-64 age group.

– The Average Value of Christmas spending in Greece according to European research shows 190Euro per capita in 2024, up from 175Euro last year.

– Based on the number of transactions, 54% of shopping payments were made with cash and 42% with cards. By value of purchases, payments were 42% made with cash and 53% with cards.

– Food prices were stable, with an increase of about 4% for the Christmas and New Year’s table, which moved from 148 euros last year to 156 euros this year for a family of 4.

– The turnover of the trade sector according to ELSTAT was in the 11 months of 2024 up with an increase of 7.9% because again it is based on price growth and is 3% inflationary.

As noted by the EBEP, according to the data: Accuracy affected , more or less, 8 out of 10, 6 out of 10 looked for cheaper products for gifts, 5 out of 10 removed products from the Christmas basket, 4 out of 10 spent the same as last year and up to 250 euros, 3 out of 10 spent 36% of their gift and salary on food, 2 out of 10 spent more than last year and up to €500 and 1 out of 10 said they were unaffected by the accuracy and spent over €1000.

“President Vassilis Korkidis and the Board of Directors of EBEP wish that in 2025 the increase in income will correspond to the increase in disposable income for consumption, which, as we know, has a 70% share in the GDP of the Greek economy,” the statement concludes.