MASSIVE CUTS IN PRICES EXPECTED IN THE SALES

PALMA
THE Summer sales on Majorca which start on 7th July, are going to be short but “very aggressive” said the island's small to medium-sized business association, Pimeco yesterday.

A spokesman explained that people are spending less as a result of the recession and this has left shops, in particular clothing outlets, holding significant quantities of summer stock which they are going to be desperate to shift before the new autumn season collections arrive. Prices are therefore going to be slashed.

The recession has affected trade both within Palma and the outlying areas of the island, so the sales will be providing consumers across Majorca with the chance to grab some real bargains. Pimeco warned nevertheless that those looking for the best deals should not leave it until the last minute because the best bargains are expected to be snapped up during the first few days of the sales. The association also warned that most retailers are not expected to try and drag the sales out for the traditional two months.

Pimeco believes that most stores are going to want to shift their unsold stock as quickly as possible. It claimed that most of next month's bargains could disappear within the first ten days.

In terms of the savings expected, Pimeco said that because of special promotions and offers that are already being offered, the added discounts will mean that there will be some really spectacular bargains around.

There has, however, been some good news on the high streets.
According to Pimeco's monthly report, there was a slight upturn in trade during April and May because of the good weather and consumers buying summer clothes slightly earlier than usual.