Pimeco, one of the associations that represents smaller retailers, says that the sales period could continue until October in an attempt to counteract the "really bad" figures in August.
From its survey of retailers, 58% say that they sold less than in August last year. Only eight per cent registered an improved performance. Away from Palma, 60% of shops reckoned that August was worse than in 2016.
Compared with July, the situation wasn't any real better: 56% said that sales were down.
Bernat Coll, the Pimeco president, has expressed his concern with the findings, suggesting that economic recovery is not being reflected by consumer activity. The sales period, he adds, is not working, though 75% of shops will be extending it in the hope of shifting stock.
This latest announcement from Pimeco does have to be placed in context. The smaller retail sector consistently reports poorer than hoped for results, yet it is only one part of the sector. Supermarkets have been enjoying greatly increased sales this summer. The larger retailers and the shopping malls tend not to give out the same month-on-month information as Pimeco does, and they may well be enjoying better performance. A further factor, as has been noted in the Bulletin, is the increase in the number of shops since the economy started to recover. These shops are typically small ones.
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