The retail current value sales of department stores plunged by almost half during 2020 and recovered only partially in 2021. Department stores was the worst-performing sector in retail during 2020.
The accelerated shift to e-commerce across a variety of product categories has further undermined the retail current value sales of department stores since the onset of the pandemic. Local consumers, particularly younger ones, are now more comfortable shopping online, and both manufacturers and retailers are now paying more attention to this channel.
Follie Follie Group’s Attica Department Stores has expanded its City Link outlet in Panepistimiou Street in Athens to include two additional floors, increasing its sales area by 4,000 square meters – to a total of 30,000 square meters. One of these new floors is dedicated to sportswear, with the other dedicated to women’s luxury brands of apparel, footwear, jewellery and accessories.
There will be sharp increase in the retail current value sales of department stores during 2022. The easing of restrictions on movement will play a significant role in this, as will a revival in inbound tourism.
Attica’s expansion should see parent company Follie Follie Group gain retail value share in department stores at the expense of Notos Galleries during the forecast period. The end of Follie Follie Group’s partnership with Nike Inc will see the Nike stores that are currently operated by the former replaced by multi-brand stores under its Collective banner.
With the increasing consumer demand for omnichannel retailing, department stores will continue the process of setting up e-commerce shops. Younger consumers in particular display different behaviour to other generations.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Department Stores industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Department Stores industry in Greece, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Department stores are chained or independent retail outlets that usually exceed 2,500 sq metres of selling space, are typically in high-street or shopping mall locations, and have a primary focus on selling a range of non-food/drink/tobacco merchandise across several categories in different departments. Department stores usually have a mid-to-upper price positioning. Example brands include Macy’s, Marks & Spencer, and Takashimaya.See All of Our Definitions
This report originates from Passport, our Department Stores research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!