Micro retailers in Attica record more than €5B losses
Micro retailers in Attica record more than €5B losses
  Retail  |  Analysis

Micro retailers in Attica record more than €5B losses

RE+D magazine
16.12.2021

The turnover of micro-retail companies (1-9 employees) in the Attica region (excluding Piraeus, West Attica and Lavrio) in 2020 decreased by € 2.98 billion, while in 2021 the decrease in turnover was million a much smaller, at € 221.6million.

Additionally, the decrease in turnover of micro-retail enterprises is estimated to have caused a decrease in the turnover of all sectors by - €2.5 billion directly or indirectly related to the retail sector as suppliers, warehousing-logistics, wholesale trade etc.

These are some of the conclusions of a study conducted by the Athens Chamber of Commerce, in collaboration with ICAP, on how the pandemic affected retail businesses in 2020 and the expectations for 2021 in the Attica region.

According to the study, 2020 was a disastrous year for the industry as it is estimated that the turnover of very small retail companies in the Attica region decreased by approximately € 3 billion. reduction, but clearly lower is expected for 2021.

The negative footprint in retail trade also affected other sectors of the economy, both in terms of declining turnover and job losses.

Even the support measures that were taken by the Greek State, failed to control the declining trend in the industry. In fact, according to the study, 47.1% of retailers stated that these measures were insufficient, 27% considered that the measures were sufficient, but to a small extent and only 18.5% of companies stated that measures are sufficient to a large extent.