Retail commerce lost 4.5 billion euros last year

Retail commerce lost 4.5 billion euros last year

Retail commerce saw turnover plummet by around 4.5 billion euros in 2020 due to the pandemic and the lockdowns, shedding around €1.5 billion in the fourth quarter of the year, the Hellenic Statistical Authority reported on Tuesday.

ELSTAT said that accumulated turnover was €47.25 billion, down 8.6% from 2019 (€51.72 billion).

Turnover dropped for jewelry and watch stores by 46.8% and 39.8% for textiles and apparel in open markets.

Businesses offering postal or online sales reported an 18% increase in turnover and enterprises in computer and software reported a 13.1% hike.

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