Corfu market sluggish during sales period

Corfu businesses are expressing strong dissatisfaction with consumer activity during the winter sales period. The first month passed sluggishly and with empty cash registers, as the expense of essential goods and food has squeezed consumers' income, leaving no room for additional purchases.

"If things don't change, we won't see any improvement," Yiannis Alegris, President of Corfu Trade Association told Enimerosi, referring to the government measures against inflation (such as the basket and market pass), characterising them as insufficient thus far. As a result, there is no disposable income available to be channeled into the market. Moreover, he warns, without further measures against inflation, small businesses in particular are threatened with closure.

Market very sluggish

This image has left a strong imprint during this year's winter sales period. The market is moving very sluggishly, and as he states, things are tough mainly for small and very small commercial businesses, even though there are very good prices in the market because cash flow and placing new merchandise are imperative for every entrepreneur.

"This year's winter sales period started earlier (08/01) instead of mid-January as in previous years, immediately after the holiday period," Mr. Alegris said. "Therefore, there is no money for the consumer to spend in the market, even though there are discounts of 50% or maybe more. Consequently, the market continues to face expense, profiteering, and tax evasion with zero cash flow during the sales period. Even in e-commerce, there is a decrease in traffic, while during the holidays, people spent only on low-value gifts."

Income gone within the first 19 days

He added that, according to a recent survey by the Hellenic Confederation of Professionals, Craftsmen and Merchants (GSEVEE), the salary for six out of ten consumers has been used within the first 19 days of the month. "So we understand the difficulty of the market, as consumers have nothing to spend," he added. Purchases are focused only on essentials, he said, and the market's image does not resemble sales in any way, a fact reflected in turnover. However, the complete picture will become clear after the completion of the winter sales on February 29, although the lack of liquidity of the average consumer leaves little room for optimism.