At the same time, there is concern in the commercial world about the extent to which turnovers have recovered after a generally accepted sluggish period, while interest is now turning to Tourism and the season that has already begun.
As Makis Savvidis, vice-president of the Athens Chamber of Commerce (ESA) and vice-president of the Hellenic E-Commerce Association (GRECA), explains, speaking to APE-MPE, “during the Easter period, the movement in the market was sluggish. Consumers’ limited income is mainly spent on paying increased rents and at supermarkets, resulting in reduced retail purchases.” According to Mr. Savvidis, despite the payment of the Easter gift to private sector workers and the efforts of businesses to hold down prices, the hopes of the commercial world for increased turnovers during the Easter period were not confirmed. “Trade has placed all its hopes in tourism. Greek consumers cannot correct the liquidity deficit observed in the market. Accuracy has affected the psychology of consumers and has radically changed their buying habits,” he points out.
Compared to last year, it seems that the picture in catering was better, according to the president of the Union of Restaurants & Restaurants of Attica, Yiannis Daveronis. “Traffic over the Easter holiday period has been good for businesses. The restaurant industry was helped to a certain extent” noted Mr. Daveronis speaking to APE-MBE and continued: “It is an industry that must remain strong and alive because it has to do with the image of our country abroad. Restaurants are a key tool for tourism and must be supported by the state.” Focusing on the difficulties faced by the sector, he noted that in recent years operating costs have increased, mainly due to energy and raw materials, however efforts are being made by businesses to maintain quality and keep prices down so that the stores are a stable outlet for Greek families as well as Tourists. However, staffing continues to be a problem for businesses in the sector. As Mr. Daveronis explains, “it is an issue that must be addressed” and he emphasizes that the state, through Tourism schools, must highlight the staffing aspect of restaurants for better results in the sector.
“Increased compared to last year was the shopping traffic, during the Easter holidays.” This was recently supported by the president of the Chamber of Commerce and Industry of Piraeus and the Regional Chamber Council of Attica, Vassilis Korkidis. Of course, it has also included the catering and accommodation industries.
According to Mr. Korkidis, the Easter market was quite intense in turnover and volume of business, both in the food sector, due to the Easter table, and in many other retail sectors, due to traditional gifts. “This year the turnover seems to have moved, even if inflationary, increased compared to previous years, both in the local food markets and in the commercial stores of Attica” he said.
Six out of ten consumers maintained and increased their purchases, while parents and godparents, like every year, also this year, responded to their family and social obligations, with a total average expenditure of 190 euros for the traditional Easter sweets and gifts for friends and relatives and baptisteries. Also, the two “Easter baskets” of YPAN worked proactively to contain prices, increasing competition between businesses to the benefit of consumers. According to Mr. Korkidis, the Easter festive turnover, including travel and catering and accommodation services, will be recorded by ELSTAT in the monthly statistics of April and May, confirming the estimate that it exceeded 1.5 billion euros.
At the same time, the Greek consumer continues to be under pressure and is radically changing his consumption and purchasing habits. Disposable income has decreased noticeably in recent years, while according to a survey by IME-GSEVEE, for 60% of households, the salary is not sufficient for the whole month. Sufficient on average for 19 days. Regarding consumption trends and expenses, the same survey showed that almost 1 in 2 households (49.6%) limited their spending on going out (restaurants, coffee, cinema, etc.). 49% spent less on travel, 41.5% cut back on clothing-shoes and 38.9% spent less on household goods-furniture-electrical appliances. On the other hand, there was a surge in the percentage of households that increased their spending to cover basic needs. Specifically, 73.6% of households increased their spending on food items, 71.5% on household bills, 57.2% on heating, 49.4% on transportation and 45.2% on health and medicines.
Regarding changes in the Easter consumption and eating habits of Greeks, a nationwide survey by the Consumer Goods Retail Research Institute showed that consumers chose to make their own sweets and other Easter items in greater percentages compared to the past. The percentage who said they would make sweets at home reached 50% (from 43%) and dyeing eggs reached 79% (from 62%). When it comes to lamb and goat, 33% said they prefer skewered lamb (compared to 32% in 2023 and 67% in 2019). Baking in the oven was increased from 40% to 46%. This particular development combined with the reduced number of people at family tables translates into estimates for purchases of smaller quantities, but also the choice of different “cuts” for types of meat by consumers. 42% said they prefer to buy lamb or goat from the butcher, while 31% from the supermarket.
The IELKA survey showed that the total spending on Easter shopping remained stable with a downward trend based on consumer responses. 40% said they would reduce their purchases, while 34% said they would increase them. 26% believe that it will remain unchanged. On average, it is estimated that the expenditure for Easter per household this year reaches 190 euros, 120 euros for groceries and 70 euros for other items, such as e.g. gifts. Consumers prefer smaller Easter family tables this year compared to the past, according to the same survey. 43% of consumers said they would participate in large family dinners of more than 10 people. This percentage is up from 40% in 2023, but down from 67% in 2019.
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