By Euro Weekly News Media • 07 July 2011 • 15:11
Bargain-hunters are not out in force for the summer sales.
THE start of the summer sales has been disappointing for small businesses in Mallorca with 60 per cent of stores not meeting their expectations, a Pimeco survey revealed.
When comparing the income earned during the first three days of the sales campaign with the same period in 2010, 35 per cent said it was worse, 60 per cent said it was similar and five per cent said it was better. While 70 per cent believe that sales this week will be the same as last year, 20 per cent expect an improvement but 10 per cent predicted things would probably get worse.
“We are still in an economic crisis and many consumers do not have money to spare from their budget, even in the sales,” said Pimeco President Bernat Coll. “In view of this, we may have to rethink whether to delay the onset of the summer sales because stores in tourist areas are obliged to give discounts just when they have the opportunity to sell their products.”
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