Retail

Everyone must continue the effort to reduce prices, with a reduction of the gross profit margin for the benefit of consumers, Development Minister Takis Theodorikakos said on Monday during a meeting with the board of the supermarkets' union.

Businesses Black Friday (Friday, Nov. 29) and Cyber Monday (Monday, Dec. 2) are betting on businesses and consumers alike.

Supermarkets continue to employ tricks in the presentation of offers that mislead consumers in a way that the "offers function as a conveyor belt for price increases," as a senior official at the Development Ministry pointed out to Kathimerini.

Retail chains in Bulgaria are actively preparing for the transition from the Bulgarian leva to the euro. Nikolay Valkanov, the executive director of the Association for Modern Trade, stated on Nova TV that ongoing discussions with relevant departments are focused on coordinating activities associated with the euro's introduction.

 In 2022, the total business turnover for enterprises across sectors in industry, construction, trade, and services reached €415.5 billion. The production value was recorded at €271 billion, while the gross value added amounted to €90.9 billion. According to the ELSTAT survey, these enterprises employed a total of 3.4 million individuals, with 2.6 million salaried employees.

According to research, consumers worldwide are returning to physical stores for personalized service. The findings of the latest edition of EY’s regular global survey, Future Consumer Index (FCI), which involved more than 23,000 consumers in 30 countries, show that 32% still want the personalized service that only physical store shopping can offer.

Istanbul's office market achieved a remarkable milestone in June as occupancy rates soared nearly 90 percent, reaching their highest level in 12 years.

The total office supply in the city now stands at 7.12 million square meters.

Retail group Fourlis seeks to expand its presence in the Balkans and Cyprus with an agreement it reached with US multinational sportswear and footwear company Foot Locker. 

According to CEO Vassilis Fourlis, the Foot Locker deal is a strategic move that aims to more than double sales over the next 3-5 deals and will more than double profits. 

About a third of the revenue in retail clothing sales from February 2023 to January 2024 went to Zara brands, company data show, confirming its dominance of the sector.

During that period, Zara sales reached €725.48 million, an 18% rise from the previous annual period.

Supermarkets witnessed a price decline in July, the third month in a row, according to a survey by the Research Institute of Retail Consumer Goods (IELKA) at large chains.

The prices of products at supermarkets fell by an average of 1.56% compared to July 2023, while 13 of the 23 categories of supermarket products recorded a decrease in prices.