2014-03-24 07:31:04 - Apparel in Greece - a new market research report on companiesandmarkets.com
With Greece falling deeper into recession, 2012 has been a year of negative growth for the apparel market. Greeks are left with less money to spend and this resulted in clothing and footwear purchases becoming less frequent and more conservative as well.
A migration to cheaper brands is also evidenced, resulting in a steeper decline in value terms. On the retailers´ part, discounts and sales are becoming more prevalent and more aggressive in response to the reduced traffic in hope of boosting consumption.
Although traditionally Greeks were rather big spenders when it came to clothes, shoes or accessories, such attitudes subside amidst the economic downturn. With disposable incomes having been squeezed considerably for a good part of the Greek population, Greeks were
forced to trade down from expensive to mid-priced if not economy brands.
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