Its turnover approached 62 billion euros in 2022. retaildevelopment, which, of course, is associated with full work physical stores in 2022, with no travel restrictions, at an increased tourist trafficbut, of course, to inflation. After all, the two sectors that had the largest share in total retail turnover in 2022 are supermarkets (26.9%) and gas stations (13.9%), sectors that saw large price increases last year.

Inflation turnover

And if in the case of gas stations, the increase in turnover is due to a much higher number of trips compared to 2021, since there was no quarantine or travel ban from prefecture to prefecture, in the case of supermarkets, the increase in turnover is almost exclusively inflationary, since the volume of sales showed a slight decrease as consumers reduced spending even on food purchases. Related to this, and to the general trend, which is observed mainly among young people, is the fact that the sector, which in 2022 registered the largest percentage increase in turnover compared to 2021 (41%), despite its small participation in general retail cycle, was the retail sale of used goods (17.28 million euros).

Thus, according to ELSTAT, the total retail trade turnover in 2022 was at the level of 61.99 billion euros compared to 55.23 billion euros in 2021, an increase of 12.2%. However, if the food, fuel and automotive sectors are excluded, the turnover was 22.65 billion euros, compared to 20.58 billion euros in 2021, which means an increase of 10.05%. Turnover in the supermarket sector amounted to 16.7 billion euros, an increase of 7% compared to 2021, while in the service sector it increased by 28.4% to 8.63 billion euros.

Full reopening of stores, tourism and rising prices, the reasons for the higher turnover.

Double-digit growth was recorded in traditional retail sectors, supported by the full operation of physical stores such as clothing (18.4% increase in turnover) and footwear (18.7%), with turnover approaching $700 million. sports equipment stores reached 900,000 euros (up 9%), a sector that has grown since the lockdown. The return to physical jobs and the normal operation of entertainment venues led to a significant increase, by 29.7%, in the cosmetics sector, as well as watch and jewelry retail (26.7%).

Especially in the fourth quarter of 2022, which traditionally accounts for more than 25% of the total annual turnover, the retail turnover amounted to 17.01 billion euros, which is 10.5% more than in the corresponding period of 2021. Except for food. , fuel and vehicles, with turnover in the last quarter of 2022 amounting to 6.58 billion euros, an increase of 8.5% compared to the corresponding quarter of 2021.

Market adjustments

However, the new data caused by the inflationary crisis and the new trends that have developed since the pandemic, in turn, are causing new reshuffles on the country’s retail map, while the tourism constant, at the same time, plays its decisive role. The emergence of luxury goods as well as discount chains, intense sporting goods activity, and further development of marketplaces are some of these changes.