Greeks are cutting back on visits to the baker, the butcher,
Greeks are cutting back on visits to the baker, the butcher, and the greengrocer, chasing supermarket discounts, and hunting for clothes in secondhand shops in order to make ends meet, according to data at the Hellenic Statistical Authority (ELSTAT).
Consumption is slowing as households remain under pressure from prolonged high prices. Retail trade in the first quarter of 2025 posted sluggish growth, with turnover increasing only 0.6% compared to the first quarter of 2024. Considering that during the same period the average inflation rate rose four times faster (2.6%), this indicates a clear drop in consumption volume due to shrinking purchasing power.
In absolute terms, retail turnover reached around €16.16 billion, of which nearly €10 billion related to food, vehicles, and fuel.
Compared to the last quarter of 2024, which includes the holiday shopping season, consumption plummeted, with turnover down by -16.6% (compared to -15.9% in 2024).
Shopping from the Bargain Bins
The most worrying signs come from elsewhere: More than half of all retail sectors (27 out of the 43 tracked by ELSTAT) saw annual turnover decline, some by as much as -14.6%. On a quarterly basis, nearly all retail store categories saw turnover dive, in some cases by
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