Market Report, "Apparel and Footwear Specialist Retailers in Greece", published

Greeks continued to feel the pressure of the unstable domestic environment in 2015, with the political and financial uncertainty climbing to another high as the discussions with European partners led to capital controls and new austerity measures. The year began rather optimistically, with a new government taking the lead and the market witnessing some positive movement due to a newly found optimism and hope. As the year went on, however, and the Greek economy remained in turmoil, Greeks became increasingly less inclined to go shopping. In this climate, apparel and footwear trends developed around finding better price offers and shopping during the sales season, as most consumers tried to maximise what they could purchase with their limited budgets.

Competitive Landscape

Multinational brands led value sales of apparel and footwear in Greece, with three of the top five brands belonging to the INDITEX group in 2015 (Zara, Bershka and Pull & Bear). Zara Hellas was again the leading company in 2015 with 7% of value sales in the channel. Operating Zara and Zara Kids outlets, the chains continued to attract high footfall, with Zara’s Greek online store also playing a noteworthy role in 2015.

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Industry Prospects

Growth rates in apparel and footwear specialists in Greece are expected to continue to be highly dependent on domestic economic conditions and consequent consumer psychology. Greeks are likely to continue to avoid unnecessary spending as long as the country’s political and economic environment remains turbulent, with apparel and footwear specialist retailers expected to record a negative value CAGR of 2% at constant 2015 prices over the forecast period. Anticipated changes in legislation regarding the liberalisation of discounts and offers to undetermined discount seasons will probably have a rather positive effect on demand rates, given that Greeks are increasingly attracted to items on offer and price reductions.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Clothing and Footwear Specialist Retailers industry in Greece with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Clothing and Footwear Specialist Retailers industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.

The Clothing and Footwear Specialist Retailers in Greece market research report includes:

* Analysis of key supply-side and demand trends
* Detailed market shares for international and locally-based retailers

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