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Greek Summer Sales Begin July 13 with New Price Transparency Rules
🇬🇷 Greece /Economy & Trade

Greek Summer Sales Begin July 13 with New Price Transparency Rules

From Ta Nea · () Greek

Translated from Greek, summarized and contextualized by DistantNews.

At a glance

News Official statement New plan
  • Summer sales in Greece begin on Monday, July 13, and will last until August 31.
  • Stores have the option to open on Sunday, July 19, between 11:00 and 20:00, though the Thessaloniki Trade Association suggests closing at 18:00.
  • New regulations require retailers to display the previous lowest price for 30 days before applying discounts.

The highly anticipated summer sales are set to commence in Greece on Monday, July 13, offering consumers a period of discounted shopping that will extend through August 31. During this period, commercial establishments will have the flexibility to open their doors on Sunday, July 19, a day typically reserved for rest.

The aforementioned is highlighted in today's announcement by the EST, informing traders and consumers about the framework governing this year's summer sales, in accordance with the provisions of Law 4177/2013.

— Thessaloniki Trade Association (EST)Informing stakeholders about the upcoming sales and relevant legal framework.

While the law permits stores to operate from 11:00 to 20:00 on this optional Sunday, the Thessaloniki Trade Association (EST) has recommended an earlier closing time of 18:00. This suggestion aims to balance commercial activity with the traditional weekend rhythm for businesses in the region.

In line with updated consumer protection measures, new regulations stipulated by Law 5111/2024 mandate that all price reduction announcements must clearly display the previous lowest price. This refers to the lowest price at which the product was offered in the 30 days preceding the start of the sales period. For items recently introduced to the market, the lowest price since their launch will be considered.

As clarified, according to the new Code of Conduct (YA 66877/30-8-2024), the price reduction can be indicated as a percentage discount, a specific amount of discount, or by stating the new and the previous price, provided that the previous price is always stated, as defined by the legislation.

— Thessaloniki Trade Association (EST)Explaining the requirements for displaying discounted prices.

The EST is urging businesses to strictly adhere to these regulations, emphasizing that violations related to discount announcements and pricing carry severe penalties. The association aims to ensure fair competition and transparency throughout the sales season, protecting both consumers and honest retailers.

The EST calls on businesses to pay particular attention to compliance with the provisions governing sales and discounted price announcements, noting that the prescribed penalties for violations are particularly strict.

— Thessaloniki Trade Association (EST)Warning businesses about the strict penalties for non-compliance with sales regulations.
DistantNews Editorial

Originally published by Ta Nea in Greek. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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