Discounts ranging from 7% to 40% are already visible in stores and online platforms, giving shoppers a head start on deals. The Greek Ministry of Development has assured that rigorous market inspections are underway to ensure compliance with consumer protection laws.
Global fashion giants such as Inditex (Zara, Stradivarius, Pull & Bear, Bershka), Mango, and H&M have already started discounting select items, with reductions reaching up to 40%. Greek chains are also offering limited-time deals, particularly for online purchases.
The trend of early sales is fueled by the influence of major online retailers like Amazon and Asos, which have begun offering discounts ahead of Greek retailers, acting as a benchmark for price comparisons.
Key Dates and Expectations
The official sales period starts on January 13, with businesses expecting increased revenue during this two-month run. Retailers are optimistic, citing higher wages, controlled food inflation, and favorable winter weather as factors likely to boost sales. Analysts predict the total turnover for the sales season could surpass €6 billion.
However, concerns persist about household budgets, with rising housing costs and deferred holiday expenses potentially limiting discretionary spending. Many purchases during the Christmas season were made on credit or through “buy now, pay later” schemes, potentially affecting consumer capacity during the sales.
Shops are allowed to open on the first two Sundays of the sales period, January 19 and 26, that is, with operating hours from 11:00 a.m. to 8:00 p.m.
Consumer Advice and Regulations
Consumers are advised to check that both the original and discounted prices are clearly displayed on products. According to Greek law, retailers must indicate the lowest price offered in the 30 days preceding the discount period.
Discounts can be displayed in three ways:
- Percentage reductions (e.g., “20% off”).
- Fixed amount reductions (e.g., “€10 off”).
- Both previous and discounted prices (e.g., “Now €50, was €100,” with the earlier price crossed out).
Failure to comply with these rules can result in hefty fines: 1% of the annual turnover, or a minimum of €10,000. Misleading or inaccurate discounts carry even harsher penalties, with fines of 2% of annual turnover, or at least €20,000.
