December 2, 2020
Physical stores dominate retailing
“Physical stores are the driving force of retail,” stated Vagelis Karalis, Qivos’ CEO, at the Sundays’ edition of Kathimerini paper. He highlighted that, until the coronavirus outbreak, e-commerce accounted for only 10% of the total turnover of Greek retailers, while 90% accounted from physical stores. This percentage is changing and tends to approach the world average, which is close to 20%.
Valuable insights from QIVOS CLOUD indicates that on Thursday, November 5th – as soon as Greek premier announces nationwide lockdown – reveal an increase in turnover of 18%, compared to the previous Thursday (29/10). Compared to the previous day, Wednesday 4/11, the increase in turnover reveals explosive growth, reaching 82%. In plain terms, shoppers rush to physical stores, before the new lockdown, confirming that the relationship between consumers and physical touchpoints remains strong, even if there is a significant increase in online sales during 2020.