The onset of the financial crisis has prompted Greek entrepreneurs and investors to diversify and seek out new markets, with cafés and souvlaki shops being their main focus in 2013. The president of the traders association of the affluent Kifisia suburb of Athens, Markos Panetas, explained that many high brand clothing stores have shut down and are being replaced by restaurants and bakeries.
This is true in many areas in Greece, with chain restaurants opening new stores and improving their services. Food delivery services in particular are on the rise, with Greeks favoring souvlaki, pizza, coffee and hamburger restaurants. The proliferation of street food businesses has allowed more “exotic” flavors to squeeze in, with sushi bars and falafel stands becoming more regular sights in Greece.
The managing consultant of the Apollonion bakery chain Vasilis Evangelou noted that there while there is an upward a trend to replace clothing stores with food-related businesses, the saturation in certain areas, such as Kolonaki in down town Athens, illustrate that the quality-to-price ratio will determine their sustainability.
