Yesterday, Pimeco, the Association of Small and Medium Sized Commercial Businesses, announced that four out of every ten retailers, 44 percent, claim that takings during the first two weeks of the sales have been down on last year.
42 percent maintain that sales are on par with the first two weeks of the sales period in 2010 while only 14 percent have been able to proclaim that takings are up on last year. According to the conclusion to Pimeco's market research, the clothing, footwear and accessories sector fear that this year's Winter sales are going to be worse than last year.
43 percent are confident that it will pan out to be the same while only 12 percent are optimistic that revenue will be up on last year.
Furthermore, 60 percent of retailers admitted that the consumer response to the Winter sales has been pretty much as they expected while 40 percent said that they expected a much better turn out.
The two main reasons are lack of consumers and a lack of money.