Retail traders express satisfaction with festive-season turnover

14:30 - 30 December 2024

Economy Reporter

Cyprus Retail Trade Association, Secretary Marios Antoniou, has expressed absolute satisfaction over the holiday market outlook and the turnover during the festive period.

"We note our complete satisfaction both in terms of food purchases and the turnover in supermarkets and shopping centres, shopping streets and city centres. Last week went very well for the retail sector as a whole," Antoniou told the Cyprus News Agency (CNA). He noted that supermarkets and toy markets had the lion's share, with an increase in board games sales being recorded.

At the same time, he said that many people visited clothing and footwear stores, noting at the same time that usually consumers wait for the winter sales to buy such products.

Asked when the sales period is expected to start, he noted that there is no legislative regulation and every retailer is free to choose when he wants to start the sales-period. He estimated that, based on previous years, discounts would start as of 3 January.

Invited to give an assessment of the trading year for 2024, he said that the year is ending on a positive note both in terms of turnover volume and value.

He noted that the increase in value was self-evident due to the increase in product prices, but "what makes us happy is the increase that we are seeing in turnover volume. This means that there is an increase in retail trade and this is attributed to tourism, while foreign permanent residents in Cyprus in recent years, whether Russians, Ukrainians or even Israelis in recent times, have given a particular boost to retail trade, as well," he said.

(Source: CNA)

Retail traders express satisfaction with festive-season turnover

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