Home / Knowledge / News / Apparel/Garments / Greece apparel sales decline sharply during Christmas

Greece apparel sales decline sharply during Christmas

30
Dec '11
Apparel retailers in Greece became witness to worst Christmas in several years with sales declining by as much as 40 percent compared to the same period in 2010, according to ESEE retail federation.

The consumer confidence is at a new low owing to debt crisis in the country, which has forced nine out of every ten Greeks to become less generous in spending, ESEE said.

The sharp decline in sales was in spite of large amount of discounts offered by retailers in the days up to Christmas.

The remarkable drop in sales has robbed away any optimism that existed among the retailers before the Christmas holidays.

The recession in Greece is currently in its fourth year. In addition, there is rising inflation and people have been putting up with wage and pension cuts. All this has led to a decline in standard of living of Greeks, and they have been forced to cut spending.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 12th May 2021

Economic recovery under threat amid surging COVID cases: UN

While the global growth outlook has improved, led by robust rebound...

Pic: 2p2play / Shutterstock.com

Retail | On 12th May 2021

Retailers need to consider changes as US emerges from pandemic: NPD

Millions of new remote and hybrid-remote workers, kids returning to...

Pic: Shutterstock

Textiles | On 12th May 2021

Uzbekistan exported textile products worth $637.7 million in Q1 2021

Uzbekistan exported textile products worth $637.7 million to 54...

Interviews View All

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

Verticals like fast fashion won’t completely adopt personalisation on...

Textile Industry, Head honchos

Textile Industry
Head honchos

Strike a balance between handmade in India and 'Make in India'

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Ismail Ajani,

Ismail Ajani

Hollywood Footwear’s story began in 1946 when Jummabhai Ajani started the...

Shivendra Nigam,

Shivendra Nigam

Delhi-headquartered Cantabil Retail India Ltd was founded by Vijay Bansal...

Steve McCullough & Marco Weichert, Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Steve McCullough & Marco Weichert
Functional Fabric Fair & Design and Development GmbH Textile Consult respectively

Functional Fabric Fair is a trade-exclusive event showcasing the latest...

Sven Ghyselinck, Devan Chemical

Sven Ghyselinck
Devan Chemical

Headquartered in Belgium and with offices in the United Kingdom, Portugal...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Vidur Adlakha & Riccardo Bennidini, La Fuori

Vidur Adlakha & Riccardo Bennidini
La Fuori

With an active presence in US, Italy and India, clothing brand La Fuori...

Aprajita Toor, Aprajita Toor

Aprajita Toor
Aprajita Toor

The creations by Aprajita Toor were born out of a deep desire to create...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search