Cor­po­rate of­fi­cials see sales drop

Kathimerini English - - Focus -

Re­tail com­merce has ex­pe­ri­enced an an­nual de­cline of 2.12 per­cent on aver­age in the first half of the year, ac­cord­ing to the views of 166 se­nior cor­po­rate of­fi­cials polled by the Re­search In­sti­tute of Re­tail Con­sumer Goods (IELKA).

The sur­vey has also found that the re­spon­dents’ es­ti­mates con­verge on the de­cline in sales con­tin­u­ing in the lat­ter half of the year as well. More than twothirds (68 per­cent) said sales will likely drop in the July-De­cem­ber pe­riod on a yearly ba­sis, while 19 per­cent ex­pect no change and 13 per­cent an­tic­i­pate a rise.

Their con­cerns are mostly af­fected by macroe­co­nomic de- vel­op­ments in the coun­try and show that un­cer­tainty as well as high tax­a­tion are hav­ing a ma­jor im­pact on con­sumer sen­ti­ment. Their main prob­lem is fi­nan­cial un­cer­tainty, which has al­tered con­sumer habits, fol­lowed by the is­sue of re­duced sales, high value-added tax rates, high op­er­at­ing costs and low prof­its.

The vast ma­jor­ity of of­fi­cials that took part in the sur­vey – al­most 81 per­cent – be­lieve that the fi­nan­cial sit­u­a­tion has de­te­ri­o­rated in the Jan­uary-June 2017 pe­riod; 16 per­cent thought the sit­u­a­tion re­mained un­changed and about 4 per­cent de­tected an im­prove­ment.

Over two-thirds of cor­po­rate of­fi­cials polled said sales will drop in the July-De­cem­ber pe­riod.

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