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GREEK NEWS

Pandemic Causes Online Sales in Greece to Soar to 15 Billion Euros in 2020

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Profits from online sales are expected to triple this year, totaling 15 billion euros in 2020, the Hellenic Confederation of Commerce and Entrepreneurship said in a survey released on Monday.

The astounding figures are of course a result of the pandemic, but this welcome growth is unfortunately not equally distributed among all retail businesses, according to the Confederation.

The survey was conducted on Black Friday, the day after American Thanksgiving, when commerce sees a tremendous boost as people shop for Christmas. Confederation officials state that the survey proved that “Undoubtedly, large retail players have been mostly favored by the impressive increase in e-commerce.

“On the other hand,” they stated, “smaller enterprises record a significant gap in comparison with larger enterprises; however, they manage to find ways to respond to this challenge.”

More than 70 percent of smaller businesses have Internet access, while just 36 percent have an active web page and more than 55 percent have an active page on social media, the survey discovered. The survey was conducted on an aggregate of 500 enterprises in Greece involved in retail commerce during the period November 16-25, 2020.

The survey showed that an encouraging 70 percent of enterprises in the country were more willing to invest in digital transformation because of the lockdown, and 59% reported an increase in sales in comparison with the previous year. The majority of businesses recorded at least a slight increase in sales.

Seventy-four percent of stores reported an increase in the number of visitors to their websites, with surprisingly only 11 percent of them reporting “strong” growth in that aspect of business. Forty-three percent of enterprises reported to the Confederation that they have instituted marketing campaigns on Facebook or other websites.

Fully seventy-nine percent of enterprises stated that they did not participate in any Black Friday event. Of those that did, 49 percent used social media, 31 percent employed their own corporate website, while others used newsletters (20 percent) and sms (17 percent).

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