SHOPPERS are forecast to spend an average of 90 euros each during the summer sales which here in the Balearics start on July 7, a week later than in the rest of the country where millions of people will be queuing up outsides stores to bag a bargain this morning.
A recent consumer survey of over 3'000 people across the Balearics and Spain carried out by the Federation of Independent Consumers, has discovered that shoppers have budgeted to spend around 5.5 percent less during the summer sales this year than they did in 2008.
However, the year-on-year difference is only of around five euros per person and, if the federation's forecasts proves correct, retailers will not be complaining too much once the sales draw to a close.
MOUNTAINS OF STOCK
However, as the Bulletin reported over the weekend, it is highly unlikely that the sales will last for the usual two months.
Retailers are sitting on mountains of unsold summer stock, esapecially the clothing and footwear sectors, and they are desperate to move the goods as quickly as possible so first week discounts are expected to be huge.
But, the consumer federation's survey has also revealed that shoppers are going to be very careful and not get carried away.
Federation spokesperson Agustina Laguna said that, because of the current economic crisis, Consumers are only going to buy what they really need -whatever the savings. Apparently, 23 percent of those surveyed are going to avoid buying the big brand and designer labels, 31 percent are going to be looking for the very best bargains and 35 percent are only going to be buying what they really need in order to save as much money as possible.
The summer sales in Majorca always start slightly later than the rest of the country in order to catch the summer tourists at the start of peak season.
This year however, that market is going to be slightly lower in numbers and spending power.