The closing date is Monday for the winter sales that will last until the end of February, with the optional store opening on Sundays, 14 and 21 January 2024.
Please note that the regular winter sales start on Monday, 8 January, and end on Thursday, 29 February 2024, while the stores can optionally remain open on Sundays, 14 and 21 January 2024, with the opening hours proposed by the Athens Chamber of Commerce, 11:00 – 18:00.
Commercial enterprises should pay particular attention to the following:
According to paragraph 2a of article 15 of Law 4177/2013, as amended by Law 5039/2023, in each price reduction notice, the previous price applied by the trader for a specified period of time before the price reduction was applied is indicated.
A price reduction announcement, according to Chapter 2, paragraph 8 of the new Code of Ethics on price reduction announcements (YA 35935/13-4-2023), is any announcement by the entrepreneur that he has reduced the price for a product with the following form:
– Either percentage (%), e.g. "20% discount".
– Either a certain amount, e.g. "10 euro discount".
– Either indication of a new (lower) price and the previous (higher) applied price. The last value can be displayed in a deleted form, e.g. "now 50 euros, before 100 euros" or "50 euros 100 euros".
Previous price means the lowest price applied by the merchant during the 30 days before the price reduction was applied.
When the product has been on the market for less than 30 days, the previous price is the lowest price applied by the merchant during the time the product has been on the market. Where the price is progressively reduced during the 30 days before the price reduction application, the previous price shall mean the price in force before the application of the first of the successive price reductions.
Particular attention must be paid to complying with the provisions on rebates and reduced prices, as the penalties are heavy. Specifically, according to Article 21 of Law 4177/2013, those who violate the law are subject to a fine of an amount equal to 1% of the annual turnover and, in any case, not less than 10,000 euros.
In the aggravating case where the discounts are proven inaccurate or misleading, a fine is imposed equal to 2% of the annual turnover and not less than 20,000 euros.
Shopkeepers seek to rekindle shopping interest with hot deals, and major clothing and footwear chains offer items at reduced prices of 10% to 50%. The photos show that the queues form from the cash registers and reach outside the stores.
See photos:
At the same time, business people characterise the movement in the festive Christmas market as simply good, noting that consumers were cautious and measured in their purchases.
During the winter sales, the stores are expected to be open on Sundays, January 14 and 21, with suggested opening hours from 11:00 am. until 20:00. It is recalled that, based on the existing legislative framework, the winter sales start on the second Monday of every January and end at the end of February.
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