The Greek retail sector faced a significant setback in December 2024, as reported data shows a dramatic decline in sales from the previous year. According to newly released figures, retail sales in December contracted by 5.4% year-over-year, a stark contrast to the modest 1.1% growth recorded in November 2024.
The updated data, released on February 28, 2025, highlights a challenging period for Greece's economic recovery efforts, as consumer spending—a critical driver of economic health—suffered a considerable blow during the bustling holiday season when sales are typically expected to surge. Retailers and economists alike are now examining the underlying factors behind this steep decline, such as potential shifts in consumer behavior, economic uncertainty, and external market conditions.
As Greece seeks to analyze and address these challenges, the recent downturn underscores the importance of strategic planning and policy adjustments to bolster consumer confidence and stimulate retail activity in the coming months. These efforts will be crucial to ensure a more resilient economic landscape moving forward.
