Palma.—The winter sales boom did not last long, in fact the first two days, according to the majority of the island's retail sector.
Small and medium sized commercial association Pimeco yesterday published the findings of its latest market research and nine out of ten retailers in Majorca have not seen an improvement in takings during the first month of the winter sales (January 6 to February ) in comparison to last year.

46 percent of traders claim that business has so far been worse than last year, 45 percent maintain takings have been about the same while only nine percent have enjoyed a more positive sales period.

In Palma, the majority of stores claim to have shifted just 55 percent of their winter stock and are hoping that they can move the rest during the final month of the sales period when prices are traditionally slashed even further.

But, few believe it, 93 percent of Palma retailers fear the second period of the sales will be much worse than last year and Pimeco itself says that the outlook is negative and that retailers have been suffering a steady fall in takings now since 2008.