Marketing strategy

Businesses Black Friday (Friday, Nov. 29) and Cyber Monday (Monday, Dec. 2) are betting on businesses and consumers alike.

 In 2022, the total business turnover for enterprises across sectors in industry, construction, trade, and services reached €415.5 billion. The production value was recorded at €271 billion, while the gross value added amounted to €90.9 billion. According to the ELSTAT survey, these enterprises employed a total of 3.4 million individuals, with 2.6 million salaried employees.

The summer sales season officially commenced this Monday and will extend through Saturday, August 31. According to current legislation, stores have the option to open on Sunday, July 14, with operating hours set from 11 a.m. to 8 p.m.

Retail chains have indulged in an offers spree from this week in an attempt to energize the market ahead of the regular summer sales, which start on Monday, July 8 and end on August 31.

The discounts offered, both at brick-and-mortar stores and mainly through online sales channels reach as high as 50%, which according to market players suggests even greater discounts later.

The lawsuit alleges that Amazon used non-public data provided by retailers selling products on the online Marketplace to offer cheaper competing products for sale directly to consumers

There has been a lot of business activity recently in the food and beverage industry, as well as in organized food retail, with the conditions appearing to be ripe for the completion of corporate mergers and acquisitions.

According to the National Statistical Institute, the overall business climate indicator in March 2024 remains stable compared to February, hovering around 23%. While there was a boost in the indicator within the retail trade and service sector, there was a decline noted in the industry and construction sectors.

Supermarket prices increased by 2.75% in February, down from 3% in the previous month, according to a report of prices in major retail chains by the Consumer Goods Retail Research Institute (IELKA).

Household appliances in Cyprus, such as refrigerators, washing machines and TV sets, are expected to experience price increases in the near future. The Retail Trade Association attributes this development to the Red Sea tensions. However, the Cyprus Consumers Association deems any price hikes in household appliances due to Houthi attacks on cargo ships as unjustified.

Retail sales volume fell 5.2% in November 2023 in the Greece, with sales falling across the majority of store categories in the month, the Hellenic Statistical Authority (ELSTAT) said on Wednesday.