High street blues continue

06/05/2013 00:00

Palma.Consumer confidence in Majorca continues to be extremely low, in fact lower than last year, according to the latest findings by the Association of Small to Medium Sized shopkeepers (Pimeco).

The results of its retail survey of the first quarter has concluded that business has been poorer than the first three months of last year.
According to Pimeco, its members took a total of 677 million euros during the first quarter, nearly ten million euros less than last year.
Pimeco sources said yesterday that the results show that the situation for most retailers has got worse and that the small to medium sized shopkeepers are facing a very uncertain future.

The biggest drop in sales was in February, right in the middle of the Winter sales, when takings were 5.2 million euros down on the same month last year, although March, which included the Easter holidays, also saw takings tumble by 3.6 million euros.

Pimeco hope that the tourist season will help to lift sales because the domestic market has flat lined and is showing no signs of reviving in the short term.