With rising prices influencing consumer habits, Greece experiences a significant growth in the sale of second-hand items, particularly in flea markets, reflecting a shift in purchasing behavior and ideological views among younger shoppers.
In Greece, the landscape of retail trade is undergoing notable changes as consumers adapt to rising prices and seek more economical purchasing options. According to recent data from the Hellenic Statistical Authority (ELSTAT), sales of second-hand items, particularly clothing and shoes from flea markets, are experiencing unprecedented growth. This trend appears to be indicative of both economic necessity and shifting ideological perspectives among younger consumers.
In a report published by ?? ????, it was highlighted that in 2024, the retail category encompassing “Other items at outdoor stalls and markets” and “Used goods in stores” ranked second and third respectively in terms of percentage increases within retail trade, excluding fuels, food, and vehicles. The revenue from clothing and shoe sales at flea markets, fairs, and bazaars has seen a remarkable surge, signaling a shift in buying habits influenced by the current economic climate.
The phenomenon of shopping at flea markets is not entirely new; it can be traced back to the economic crisis that began in 2010, when consumers facing financial constraints began exploring these markets for affordable clothing and shoes. According to ELSTAT data, the annual turnover in retail sales of textiles, clothing, and footwear at outdoor stalls and markets has experienced an extraordinary growth rate of nearly 200% from 2020 to 2024. Specifically, turnover jumped from €4.88 million in 2020 to €14.36 million in 2024. Furthermore, the sector recorded the highest percentage growth among all retail businesses in 2024, with an increase of 35.2%.
While the rise in electronic payments has likely contributed to this increase by revealing previously unreported transactions, the data clearly indicates a growing trend towards the purchase of second-hand goods. This trend is consistent with the overall sustainability movement, particularly among younger generations who are increasingly favoring second-hand purchases for reasons beyond simple economic necessity.
The sale of used goods, although still characterized by lower overall turnover compared to countries like Britain, is on the rise. The turnover in the “Retail trade of used goods in stores” category quadrupled over five years, climbing from €9.099 million in 2020 to €41.60 million in 2024, based on ELSTAT figures. The growth reflects changing consumer preferences that incorporate sustainability into the purchasing process, with second-hand goods ranging from clothing and footwear to electronics and household items becoming more attractive to buyers.
Despite this upward trend in second-hand goods, the overall retail market for clothing and shoes in Greece revealed an increase of only 2.5% in 2024, which fell short of the inflation rate that was reported at 2.7%. This suggests a decrease in the real consumption of these products, as the retail sales value for clothing alone surpassed €3.65 billion, while footwear and leather goods reached €600 million. Collectively, the retail sales of clothing, footwear, and textiles accounted for €4.65 billion, representing 6.5% of total retail sales in Greece.
The report from ?? ???? illuminates the evolving dynamics in the Greek retail sector, marked by a significant increase in second-hand goods and changing consumer behavior amidst economic pressures. As the data continues to emerge, the implications of these trends will likely shape the future of retail practices in Greece.
Source: Noah Wire Services
