Key information about Greece Retail Sales Growth

• Greece Retail Sales dropped 5.6 % YoY in Dec 2024, compared with a 0.5 % increase in the previous month.
• Greece Retail Sales Growth YoY data is updated monthly, available from Jan 2001 to Dec 2024, with an average growth rate of 1.0 %.
• The data reached an all-time high of 39.4 % in Apr 2021 and a record low of -24.4 % in Apr 2020.
• In the latest reports, Car Sales of Greece recorded 145,606.0 units in Dec 2023, representing a growth of 25.7 %.

CEIC calculates monthly Retail Sales: Excl. Motor Vehicles Growth from monthly Retail Trade Index. Hellenic Statistical Authority provides Retail Trade Index with base 2021=100.

Retail Sales in Greece increased 7.50 percent in April of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Greece Retail Sales YoY - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Key information about Greece Consumer Confidence: Net Balance

• Greece Consumer Confidence: Net Balance recorded a drop of 42.0 % Point in Feb 2025, compared with a drop of 43.4 % points in the previous month.
• Greece Consumer Confidence: Net Balance data is updated monthly, available from Jan 1985 to Feb 2025, with an averaged -27.9 % points.
• The data reached an all-time high of 0.5 % in Apr 2000 and a record low of -81.3 % in Feb 2012.

The European Commission's Directorate-General for Economic and Financial Affairs provides monthly Consumer Confidence Indicator with range from -100 to 100 with neutral point 0.


Related information about Greece Consumer Confidence: Net Balance

• In the latest reports, Retail Sales of Greece dropped 5.6 % YoY in Dec 2024.
• Greece Consumer Confidence gained 5.2 % Point in Feb 2025.
• Greece Annual Household Expenditure per Capita reached 9,037.9 USD in Dec 2023.
• Car Sales of Greece recorded 145,606.0 units in Dec 2023, representing a growth of 25.7 %.

Key information about Greece Motor Vehicles Sales

• Greece Motor Vehicles Sales recorded 145,606 units in Dec 2023, compared with 115,878 units in the previous year.
• Greece Motor Vehicles Sales is updated yearly, available from 2005 to 2023, with an averaged number of 112,364 units.
• The data reached an all-time high of 306,875 units in Dec 2007 and a record low of 62,518 units in Dec 2012.
• In the latest reports, Retail Sales of Greece dropped 12 % YoY in Feb 2024.

CEIC calculates annual Motor Vehicles Sales from semiannual Motor Vehicles Sales. The International Organization of Motor Vehicle Manufacturers provides year-to-date Motor Vehicles Sales.

In 2019, the volume of Greek yogurt sold in the United States declined by *** percent when compared to the previous year. The U.S. retail sales value of traditional yogurt was down by *** percent during that time.

Over the five years through 2025, revenue is expected to increase at a compound annula rate of 1.5%. European fashion retailers are accelerating nearshoring to reduce supply chain risks, improve agility and meet sustainability goals - despite higher regional labour costs and trade complexities. As wage inflation persists and consumer price sensitivity remains high, operational efficiency and workforce strategy are becoming critical levers for retailers. Retailers that adapt pricing, diversify sales channels and localise assortments will be best positioned to thrive in a cautious, value-focused market. The brands responding with relevance and reach, and not just price, will define the next phase of retail performance in Europe. Consumer caution is driving value-focused shopping and value retailers like Primark are outperforming mid-market peers, prompting brands such as Inditex and Hugo Boss to expand off-price, low-cost and resale channels to stay competitive with increasingly price-sensitive shoppers. Even luxury retailers in Europe face slowing global sales. Brands are shifting to entry-level goods, direct-to-consumer sales and personalised experiences. Hermès leads with strong margins and disciplined growth, resisting overextension and focusing on exclusivity. In 2025, revenue is anticipated to drop 0.9% to €333.6 billion. Tightening EU regulation and rising consumer expectations are pushing European fashion retailers to prioritise sustainability. Leading brands like Kering, Mulberry and H&M are investing in traceability and ethical practices to meet new ESG standards and protect long-term growth. Sustainability is also reshaping fashion retail as European consumers shift toward second-hand and circular options. Retailers like Zara, Uniqlo and Zalando are expanding resale, repair, and rental services to meet growing demand and strengthen customer loyalty through sustainable innovation. Social media’s influence is reshaping European fashion retail by accelerating trend adoption, driving value-based consumer decisions and fueling demand for faster, more responsive offerings. Retailers that successfully integrate social-first strategies and influencer partnerships will be better positioned to capture growth in this evolving market. Over the five years through 2031, revenue is expected to increase at a compound annual rate of 3%, to €386.8 billion, while profit is anticipated to reach 3% of revenue. Overstocking and discounting continue to weigh heavily on the performance outlook. The impact is clear: thinner margins, increased waste and weakened brand perception. Investments in AI, inventory agility and data-driven decision-making are helping retailers regain control over their stock levels, laying the foundation for more resilient and profitable growth in a highly competitive and fast-changing market. Sustainability is now a business imperative. Fashion retailers that move early to meet rising standards - both voluntary and mandatory - will be better positioned for long-term growth, brand loyalty and access to capital. Those who delay face rising costs, shrinking market access and reputational fallout. In short, the social media landscape is no longer optional for clothing, footwear and leather goods retailers in Europe - it is foundational. Brands that create relevant, shoppable and emotionally resonant content on platforms like TikTok will be best positioned to secure both attention and spend from the next generation of fashion consumers.

Key information about Greece Consumer Confidence Growth

• Greece Consumer Confidence gained 5.2 % Point in Feb 2025, compared with an increase of 2.9 % Point in the previous month.
• Greece Consumer Confidence: YoY Change is updated monthly, available from Jan 1986 to Feb 2025, averaged at -0.9 % Point.
• The data reached an all-time high of 40.4 % Point in Aug 2019 and a record low of -40.3 % Point in Oct 2010.
• In the latest reports, Retail Sales of Greece dropped 5.6 % YoY in Dec 2024.

CEIC calculates monthly Consumer Confidence Change from monthly Consumer Confidence Indicator. The European Commission's Directorate-General for Economic and Financial Affairs provides Consumer Confidence Indicator with range from -100 to 100 with neutral point 0.

Over the five years through 2024, textile retailing revenue is expected to fall at a compound annual rate of 5.2%. Once a favourite pastime, knitting and sewing have fallen out of favour thanks to the internet boom and alternative entertainment like Netflix and scrolling on social media. As media consumption has shot up, traditional hobbies like knitting and making clothing have plummeted, as have fabric and haberdashery sales. The explosion of fast fashion has decimated the textile and fashion sector. Before, stitching up holes and repairing garments were ways to extend the life of clothing items, but this isn’t the case anymore. The popularity of fast fashion means it’s not worth the time or effort to replace a garment when something new can be bought for less than €20. The pandemic relieved this long-term decline as Europeans looked for other ways to pass the time over lockdown – though this trend was short-lived. Gen-Z shoppers have a keen interest in individuality and expressing personality through clothing – including making their own – but this market isn’t big enough to offset falls in other areas. People are paring back expenditure on non-essential items like blankets and table linen while household finances remain tight. In 2024, revenue is expected to drop by 2.9% to €13.7 billion. Over the five years through 2029, textile retailing revenue is expected to inch up at a compound annual rate of 0.8% to €14.2 billion. Sustainability is a dominant theme in the industry. The textile and fashion sector is one of the most damaging on the planet, generating 12.6 million tonnes of waste a year and only 22% is collected and recycled, according to the European Commission. It’s no surprise regulatory bodies – including the European Commission – are cracking down on excessive consumption and introducing more stringent recycling and reuse criteria. At the front line and last barrier between manufacturers and consumers, textile retailers have an essential role to play in promoting the circular economy.

E-commerce companies sell various goods and associated services through online portals, either on websites, mobile applications or integrated into social media platforms. Internet access across Europe is rapidly accelerating, with the vast majority of countries boasting usage rates of over 80% of the population. The spread of fast broadband and mobile data has enabled rising numbers of Europeans to engage in e-shopping. Over the five years through 2024, e-commerce revenue in Europe is forecast to climb at a compound annual rate of 2.9% to reach €324.9 billion. E-tailers benefit from lower overhead costs than brick-and-mortar stores, enabling them to offer highly competitive prices to their customers and draw sales away from traditionally popular establishments like department stores. E-tailers have taken off by leveraging these cost advantages to appeal to an increasingly price-conscious consumer base. The expansion of value-added services like ‘Buy now, pay later’ and fast, flexible delivery options have contributed to some hefty industry growth. Sky-high inflation across much of Europe has severely dented Europeans’ spending power, with drops in sales volumes affecting many online stores in 2023. Despite this, revenue continues on an upwards trajectory as inflation swamps the drop in volume sales, with an estimated 1.1% growth rate in 2024. Looking forward, internet penetration will continue to provide a growing market for e-tailers, driving revenue upwards at a projected compound annual rate of 7.2% to reach €686.4 billion over the five years through 2029. E-tailers will continue to adapt their business practises and product selections to reflect the ever-growing level of environmental awareness. Delivery fleets will become fully electrified for many companies, while increasingly stringent waste regulations will force companies to adopt biodegradable or recyclable packaging in the coming years. The integration of AI and data analytics will transform business operations, making them more efficient and help to lower wage costs, supporting profitability.

Over the five years through 2024, second-hand stores’ revenue is expected to inch downwards at a compound annual rate of 3.9%. The resale fashion market isn’t new. Initially viewed as just charity or thrift shops, consumer attitudes towards second-hand goods have shifted thanks to the sharing economy and Gen Z becoming a larger voice in the retail market. Interest in preloved goods has skyrocketed thanks to heightened environmental concerns and the ethical impacts of fashion – particularly fast fashion. The pandemic has also helped second-hand retailers, as many Europeans cleared out of their wardrobes during lockdowns, meaning additional donations and inventory for stores. In 2024, revenue is slated to drop by 3.7% to €11.3 billion, while the average profit margin is anticipated to stand at 10.7%. Spiralling inflation and lacklustre disposable income growth have led Europeans to go on a second-hand shopping spree to hunt for a bargain. The second-hand market isn’t just for those looking to save, with eager entrepreneurs turning to luxury handbags, jewellery and watches as alternative investments. The perception of buying pre-worn clothes is now popular and not just for those on a budget. Revenue for second-hand stores is forecast to expand at a compound annual rate of 3.2% over the five years through 2029 to €13.3 billion, while the average industry profit margin is set to reach 13.8%. Shoppers will continue to turn to second-hand shops as a way to reduce their negative impact on the environment while remaining fashion-forward. Preloved shopping is in vogue – and its uptake is only expected to accelerate as Gen Z enters the workforce and becomes the dominant source of spending power. While charity shops have historically dominated the second-hand market, companies will expand their online presence to capture a share of the swelling online preloved market.

Key information about Greece Household Expenditure per Capita

• Greece Annual Household Expenditure per Capita reached 9,037.918 USD in Dec 2023, compared with the last update number of 7,919.141 USD in Dec 2022.
• Greece Annual Household Expenditure per Capita data is updated yearly, available from Dec 2008 to Dec 2023, with an averaged value of 8,459.960 USD.
• The data reached an all-time high of 13,927.807 USD in Dec 2008 and a record low of 7,142.916 USD in Dec 2020.
• In the latest reports, Retail Sales of Greece dropped 2.579 % YoY in Jul 2024.

CEIC calculates Annual Household Expenditure per Capita from annual Monthly Average Household Expenditure multiplied by 12 and annual Average Household Size and converts it into USD. Hellenic Statistical Authority provides Average Household Expenditure in EUR and Average Household Size. Federal Reserve Board average market exchange rate is used for currency conversions.

The COVID-19 pandemic has inflicted substantial financial hardships on physical bookstores in Europe due to store closures amid lockdown periods. As a result, brick-and-mortar outlets, particularly in France and Italy, have seen significant revenue drops. In contrast, online retailers like Amazon have enjoyed a hike in sales because of their attractive price deals and affordable delivery options. Physical bookshops are adopting modern strategies such as click-and-collect services and home delivery of books to keep up with competitors. Meanwhile, traditional print book sales are dwindling across Europe, with e-books and audiobooks gaining momentum. Industry revenue is forecast to slump at a compound annual rate of 7.7% to €30.6 billion over the five years through 2024, including a projected drop of 6.9% in 2024, when the average industry profit margin is expected to reach 8.4%.

To rival the convenience offered by digital competitors, large-scale bookstore chains are enhancing customer experiences within their stores. UK retailers, like Waterstones, customise their stock to mirror local tastes and host in-store coffee shops and book clubs. Additionally, several bookstores have introduced value-added services like post office facilities, thus transforming into a one-stop shop, driving up overall customer spending within their establishments.

Industry revenue is forecast to drop at a compound annual rate of 1.3% to €28.6 billion over the five years through 2029. In the face of ongoing inflationary pressures, European book and stationery retailers grapple with declining revenue. Consumers are cutting back on discretionary spending, avoiding splashing on things like books and subsequently straining these sectors. Yet, there are some silver linings for German retailers. These businesses are combatting declining revenue by diversifying product ranges to include gifts and non-book items like stationery to attract customers. For many European countries, however, reaching pre-pandemic performance levels is a long way off, creating a challenging five-year outlook for these industries.

The Greek other agglomerates market dropped remarkably to $1.5M in 2024, with a decrease of -60.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a abrupt slump.

Revenue in the Tobacco Retailers in Europe industry is expected to contract at a compound annual rate of 3% to €36.4 billion over the five years through 2024. Rising public awareness of the health risks of smoking, driven by intense anti-smoking campaigns by the government, has caused smoking rates and sales to plummet for tobacco retailers. Strong legislation among Western Europe has hit sales hard, while stiff competition from supermarkets and convenience stores has shifted revenue away from specialist tobacco retailers. The addictive nature of tobacco makes demand inelastic and allows businesses to pass on higher prices to consumers, mitigating a sharper slump in revenue through ongoing inflationary pressures in Europe. The legislative environment has also eaten into revenue. For example, a ban on selling menthol-flavoured smoking products in the UK was introduced in May 2020. However, this has only influenced a fraction of the European market. The continued slump in the popularity of smoking contributes to an estimated 2.9% drop in 2024. Revenue is anticipated to swell at a compound annual rate of 3.3% in the five years through 2029 to €42.8 billion. Although some consumers are likely to increase their expenditure on tobacco-related products, continued anti-smoking campaigns and legislation to further ban tobacco advertising will likely result in a slump in total sales. Legislation, primarily coming from Western Europe, should heavily erode much of the industry’s consumer base. Tobacconists will face rising external competition from supermarkets and vaping, which could reduce sales volumes and see profitability fall.

Hardware and home improvement stores’ revenue is forecast to rise at a compound annual rate of 1.4% over the five years through 2024 to reach €155.8 billion. Private spending on home renovation and maintenance, construction activity, environmental awareness and the number of households each play their part in determining sales. The EU and the UK enjoyed a housing market boom prior to 2023, when soaring mortgage rates deterred many from buying a new house. While demand for outfitting new houses is down, more Europeans are turning to repair, maintenance and renovation work on their existing properties, helping to raise sales of hardware and home improvement products. This trend accelerated during the COVID-19 pandemic, as people confined to their homes looked to refresh their surroundings and found themselves with more time to dedicate to DIY projects. Hardware and home improvement stores were deemed by many governments as essential businesses, allowing them to remain open during the lockdowns. In 2024, revenue growth is expected to be constrained by the cost-of-living crisis. Shoppers are increasingly price-sensitive and many are thinking twice before spending in response to intense inflationary pressures, cutting sales for many hardware and home improvement stores. Price inflation is expected to outweigh falling sales volumes, leading to revenue growth of 1% in 2024. Over the five years through 2029, hardware and home improvement stores’ revenue is slated to climb at a compound annual rate of 1.5% to reach €168 billion. Ever-growing levels of environmental awareness among Europeans will drive strong demand for sustainably sourced and energy-efficient products, like reclaimed wood and lithium-ion battery-powered hand tools. Competition from online-only retailers will continue to heat up, forcing hardware and home improvement stores to expand their in-store offerings to attract customers – augmented reality stations where shoppers can visualise their new products in their homes are one way retailers can try to do this.

Online streaming services such as Netflix, Amazon Prime Video and Spotify are driving a transition in the home entertainment market; consumers are increasingly shifting away from physical discs like CDs and DVDs to digital formats, hitting music and video record retailers’ sales. Streaming services’ subscription model offers customers access to an extensive content library at a low cost, making DVD purchases less appealing, especially as people often only watch things once. The International Federation of the Phonographic Industry notes that Sweden, the UK and Germany lead the way in paid audio subscriptions, posing a significant challenge to audio record retailers. As competition heightens, many retailers are shutting up shop. However, some companies are staying strong. For example, large German retailers like Ceconomy AG and Expert SE offer a diverse range of products, including electric data processing equipment and consumer electronics, helping them secure steadier sales and maintain profitability. Nonetheless, music and video record retailing revenue is forecast to plunge at a compound annual rate of 5.1% over the five years through 2024 to €6.6 billion, including an estimated drop of 6.7% in 2024. Revenue is slated to sink at a compound annual rate of 0.3% over the five years through 2029 to €6.5 billion, while the average industry profit margin is also expected to edge downwards. The physical video recording market will continue to face challenge due to the fast availability of films on streaming services post-theatre. The delay in releasing DVDs and Blu-rays, especially in markets like France, drives consumers towards these immediate-access platforms, reducing demand for physical media. Major retailers are expected to withstand market decline by diversifying their products and embracing e-commerce. However, smaller shops risk losing business in this shifting landscape. As on-demand streaming gains more traction among more age groups, including older consumers, more people with move away from physical copies, cutting retailers’ customer base.

The Greek benzene market shrank remarkably to $33K in 2024, falling by -35.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a significant increase. As a result, consumption attained the peak level of $2.1M. From 2020 to 2024, the growth of the market remained at a somewhat lower figure.

In 2024, the Greek cosmetics market increased by 20% to $398M, rising for the third year in a row after three years of decline. In general, the total consumption indicated a resilient expansion from 2012 to 2024: its value increased at an average annual rate of +5.3% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption increased by +44.0% against 2021 indices.

In Europe, industry revenue is expected to contract at a compound annual rate of 6.7% to €35.7 billion in the five years through 2024. The drinks retailing industry has a unique structure. Public health concerns drive the prevalence of state monopolies across The Nordics, except for Denmark. While across the remainder of Europe, the Drinks Retailing industry mainly comprises smaller independent shops and chains. A significant reason for this structure and contraction is the continued growth of online delivery services and the popularity of purchasing less costly drinks from supermarkets. Supermarkets continue to undercut the industry, forcing drink retailers into niche markets like wine, gin and whisky retail to attract consumers. Declining consumption of alcohol, primarily seen throughout Western Europe, has compounded the effect of heightened competition as consumers continue to become more health conscious. In 2024, revenue is anticipated to drop by 5.4%.

Revenue is anticipated to edge marginally upwards at a compound annual rate of 0.7 % in the five years through 2029 to €36.9 billion. Competitive pressures and dwindling social drinking trends will prove unfavourable for the industry’s growth as supermarkets strengthen their price competitiveness over drink retailers. Shops will likely combat this by expanding into niche drink retailing lines, most notably through premium wines and spirits, and low or no alcohol lines.

In 2024, the Greek laptop and tablet computer market increased by 3.2% to $649M, rising for the eighth consecutive year after two years of decline. The market value increased at an average annual rate of +3.9% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Laptop and tablet computer consumption peaked in 2024 and is expected to retain growth in the near future.