Everybody knows that the Greek economy faces major challenges and still hasn’t recovered from the 2008 financial crisis. However, there are a few surprising facts some US businesses have discovered about the Greek market. Here are the top six secrets your competitors don’t want you to know about.
1. High-income consumer base
Despite the crisis, most Greek consumers have retained a relatively high income, and they’re looking to spend it as effectively as possible. Brand awareness is not an issue right now; Greek consumers are mostly looking for a great deal. Offering discounts and attractive prices is the best way to enter the Greek market today.
2. Flourishing market sectors
A few sectors of the Greek market were less hit by the crisis than others. Agriculture, beauty and personal care products, shipping and marine services as well as information and communication technology have already bounced back from the effects of the crisis. Whether you want to import products like olives and feta cheese, export your own goods, or even outsource your business’ ICT tasks, doing business with Greece is an excellent choice.
The Greek ecommerce market is one of the best kept secrets of the Mediterranean region. Greek consumers keep turning to the internet when they’re looking for goods because it’s easy to get the best deals and compare products online.
The Greek ecommerce market is one of the best kept secrets of the Mediterranean region. Greek consumers keep turning to the internet when they’re looking for goods because it’s easy to get the best deals and compare products online. In addition, internet penetration in Greece is going to get a boost since the government is looking for ways to further develop Greece’s IT infrastructure. This means that many new consumers are going to enter the world of ecommerce in the very near future. Your small business could greatly benefit from being there when the ball drops. Reach out to consumers in Greece and make your products available to them online.
4. Finding a supplier is easy
If you’re looking to source your supplies from overseas, Greece is one of the best choices. Lower prices, high quality goods, and great shipping opportunities are only a few advantages that make importing from Greece attractive to many US small businesses.
If you’re looking to source your supplies from overseas, Greece is one of the best choices. Lower prices, high quality goods, and great shipping opportunities are only a few advantages that make importing from Greece attractive to many US small businesses
This online database called Greek Exporters lets you search for products you wish to import from Greece. When you enter the goods you’re looking for into the search bar, the database will display all the available suppliers complete with contact info. Similarly, you can browse product categories on the site, and even ask Greek Exporters to connect you with a few of your chosen suppliers.
Bear in mind that doing business with Greece requires knowledge about Greek customs, business culture, and much more. To avoid unpleasant surprises, read our comprehensive guide and find out everything you need to know about doing business with Greece.
5. Excellent transport options
Greece has a strategic location for trade with Eastern Europe, the Mediterranean region, Asia, and Africa. No wonder that the Greek shipping industry is one of the best in the world. The sector contributes no less than 7% to the country’s GDP. Whether you want to invest in the sector or use their services for shipping your own products, choosing a Greek carrier company is an excellent choice for your small business.
6. Easy payments
Choosing Veem for your international transfers is the best way to ensure timely and secure payments for a fraction of the usual costs associated with a traditional bank transfer. Whether you’re paying your Greek supplier through Veem or you receive money for your exports to Greece, you can rest assured that the payment will reach its intended destination. Since Veem cuts out the middlemen, there are no hidden costs and no unforeseen delays in the process. In addition, Veem offers excellent foreign exchange rates. Sign up with Veem and become a part of our exclusive global business network.