Piraeus Chamber of Commerce: Heatwave Impact on Summer Sales

The President of the Piraeus Chamber of Commerce & Industry, Vasilis Korkidis, discussed the impact of the heatwave on summer sales, speaking on ERT.

Negative impacts:

• Reduced traffic in stores, especially in open markets without air conditioning.
• Decline in spontaneous purchases due to customer discomfort.
• Postponement of planned trips to shopping centers.

Positive exceptions:

• Increase in online purchases.
• Boost in sales of seasonal items (fans, air conditioners, swimwear).

According to INEMY of ESEE, the heatwaves of 2021 & 2023 caused a turnover decrease of up to 15-20% in physical stores, while online sales increased by up to 10%.

Coping strategies for merchants:

• Service during cooler hours.
• Focus on online promotion.
• Promotion of seasonal items.

In summary, the heatwave can lead to a drop of up to -18% in physical store sales, a 10% increase in e-commerce, and a 5% increase in sales of seasonal items.