The retail market has shown a positive trend during the summer sales period, with footwear and clothing among the products in highest demand, Secretary General of the Cyprus Chamber of Commerce & Industry (CCCI) Philokypros Roussounides has said.
At the same time, Cyprus Confederation of Professional Craftsmen and Shopkeepers (CyCPOVEK) Secretary General Stefanos Koursaris said the market continues to be affected by lower tourism, high prices and international developments.
Speaking to CNA, Roussounides said CCCI’s information was that retailers were moving on “quite positive signs” and that consumer activity “has picked up in recent times”, describing this as something that satisfies the market.
He said summer sales “boost” commercial activity, noting that a number of products are available at more attractive prices.
Koursaris, on his part, said that sales of clothing and footwear were currently at their peak, with discounts exceeding 50% and 60%, while “there are still discounts of 70%”. He described the period as “a very good period for shopping”.
He said the biggest discounts were seen in clothing and footwear, as well as electrical and electronic goods.
At the same time, Koursaris said international developments and lower tourism, both in terms of visitor numbers and consumer spending, as well as the high cost of basic goods, electricity and fuel, had negatively affected the market.
Roussounides said footwear and clothing were currently among the products in greatest demand, adding that purchases of such goods are expected to increase ahead of the start of the new school year in a few weeks.
He also noted that more retailers are using the internet to promote their products, either to attract customers to physical stores or to increase online sales. “With the times we live in and the speed at which technology is advancing, this will grow year by year,” he said.
€3 charge has not significantly affected e-commerce
Regarding the temporary €3 customs duty on each different category of goods contained in small parcels worth less than €150 arriving in the EU from third countries, Roussounides said it did not appear to have significantly affected consumer activity so far.
“I would not say that it particularly affected this activity,” he said, noting that the amount was small compared with the prices of products purchased from abroad and therefore “does not appear to be an obstacle, at least at this stage”.
“Businesses in Cyprus are no longer competing at a local level, but now at a global level,” he added, stressing the need to “protect those businesses so that they can be more flexible and more competitive”.
Koursaris likewise said there had been no significant change in the Cyprus market following the introduction of the €3 charge. He said there were several exemptions and that online retailers had adapted by operating in new ways, meaning e-commerce had not been affected.
CyCPOVEK calls for regulated clearance sales
Koursaris also reiterated CyCPOVEK’s call for regulated clearance sale periods, opposing the practice of continuous discounts throughout the year, which he said could “mislead consumers”.
CyCPOVEK is calling for regulated clearance sales “for at least four periods of the year, corresponding to the seasons”, so that “consumers can once again trust genuine clearance sales.”
The summer sales are expected to continue until around the end of August, according to the CCCI and CyCPOVEK officials.
(Source: CNA)
