The Christmas shopping season brought satisfaction to Cyprus’s retail sector, according to Marios Antoniou, General Secretary of the Cyprus Retail Trade Association (PASYLE). Antoniou told Brief that 2024 has been a successful year for the industry, with increases in both transaction volume and sales value compared to 2023.

He noted that market activity picked up significantly on the Friday before Christmas and peaked on Christmas Eve, traditionally the busiest day for retail. The strongest sales were recorded in food, supermarkets, clothing, footwear, and gift items.

The most notable increase was observed in food and supermarket sales, which accounted for the majority of the retail sector's revenue. Antoniou estimated the total contribution of the retail sector at over €3 billion, with more than €2 billion derived from food and supermarket sales.

Additional sectors that saw increased activity included bakery and butcher shop departments. Clothing and footwear also experienced a robust performance, with strong demand during the holiday season. Electronics, often purchased as gifts for children, and classic board games also enjoyed solid sales.

Antoniou expressed overall satisfaction with this year’s retail performance, emphasizing the growth in both sales volume and value compared to the previous year.

Looking ahead, winter sales will begin at the start of the new year, with clothing and footwear expected to take center stage, as is customary. Antoniou also noted that shops will remain closed on New Year’s Day, January 2, and January 6 for Epiphany.