This annual period is considered one of the most advantageous times for shoppers to find deals, and the Hellenic Consumers’ Workers Union has issued a comprehensive guide to help consumers navigate the summer discounts responsibly and within legal safeguards.
Price Reductions: What the Law Requires
According to Greek legislation (Law 5111/2024), any announcement of a price reduction must clearly indicate the previous price applied by the retailer for a specified period before the new, discounted price takes effect. Specifically:
- The previous price is defined as the lowest price applied during the 30 days prior to the start of the discount.
- If the product has been on the market for less than 30 days, the previous price refers to the lowest price since it became available.
- If a product’s price has been gradually reduced within a 60-day window, the previous price is the one before the first discount.
For example, if the original price of a product was €150 on June 10, and it was then offered at €120, then dropped further to €115 on July 11, the actual discount is calculated as €5 (i.e., €120 – €115).
Retailers are also permitted to display percentage discounts, but any representation of pricing must be accurate and truthful.
Transparency in Discount Displays
If more than 60% of a store’s products are on sale, the discount percentage must be visibly stated in the shop window and any commercial communication. If different categories have varying discounts, the range of the percentages (e.g., “from 20% to 50%”) must be clearly displayed. Otherwise, the signage should clarify that discounts apply only to selected items, indicating the applicable percentage.
Oversight and Compliance
The responsibility for enforcing pricing transparency and monitoring compliance during the sales period lies with:
- The Head of the Interagency Market Control Unit (DIMEA), under the Ministry of Development, for checks conducted by DIMEA inspection teams.
- The Consumer Protection Directorate, also under the Ministry of Development, for inspections they perform independently.
These authorities are empowered to impose penalties for violations related to misleading price reduction announcements or illegal commercial practices.
Consumer Tips for Smart Shopping
The Hellenic Consumers’ Workers Union also issued practical advice to help shoppers make the most of the summer sales while avoiding common pitfalls:
- Prioritize needs and make purchases based on a clear budget.
- Research the market before settling on a specific product.
- Avoid being swayed by unusually large discount percentages.
- Assess product quality and authenticity, and weigh it against the cost.
- Check return and warranty policies in case of defective items.
Source: pagenews.gr
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