Market Audit

Greece's economic problems are the result of a culture within the country which has offered business visitors a number of challenging paradoxes for many years. The greatest of these paradoxes would be why a country whose people are renowned for an entrepreneurial approach, should have seemingly failed to have kept pace with the economic advances enjoyed by many of their near European neighbours. The reasons behind this lack of obvious economic success may be linked to certain underlying cultural norms which Greece and Greeks exhibit.  For example, their corrupt government and hierarchical business structures. 

Consumer buying habits have changed since the economic downturn as well.  In a survey conducted in March 2011, Greeks were found to be coping with a reduced household budget.  Seven out of 10 Greek consumers said they intended to shop at discount stores more often and buy more products that have been marked down.  In order to deal with the associated anxiety and stress, Greeks prefer to spend time with family and friends; only three out of 10 replied that they would go out, seeking distraction outside of the home.  The three main reasons explaining their decision to reduce spending are the following:1) Greeks expect to be earning less in salary pay, 2)They are worried that they or another household member will lose their job, 3)They need to pay off existing credit lines.
http://greece.greekreporter.com/2011/09/23/change-in-greek-consumers%E2%80%99-shopping-habits/

Quoting a recent study by the Boston Consulting Group, Kathimerini reports 58% of Greeks “are planning to reduce their food budget,” beginning with spirits (70% of respondents), beer (71% of respondents), and fast food (71% of respondents).

 

 http://www.minyanville.com/businessmarkets/articles/the-economy-in-greece-austerity-greece/7/26/2011/id/35945#ixzz2QeIq3olA

Common types of Retail Outlets in Greece:  Shops, Open air markets, Department Stores, Malls

Advertisement in Greece vs. US: 

These ads are similar in that it depicts Nescafe drinkers as having the ability to change who they are. 

US Nescafe Commercial