The small business sector is experiencing real difficulty at the moment, Coll said. He explained that takings during the summer period had been very bad and he had no illusions about the Sales saving the day.
The President assessed that the level of takings this year was going to be about the same as Summer Sales in previous years.
He warned though that in the months prior to this season's Sales, consumer confidence had been ever decreasing and that he viewed it unlikely that there was suddenly going to be an about-turnin spending. Instead of going shopping when need arises, alleged Coll, people are now increasingly putting off buying altogether. He added that although warnings are generally given to the public about setting aside a budget for Sales shopping and not buying items for the sole reason that they were reduced in price, such advice was becoming increasingly unnecessary. In fact, many are waiting for Sales periods to buy essentials, Coll reported.
He explained that in recent years, discount tactics, both prior to and during official Sales periods, were being used as a means of boosting income, rather than for just clearing what will soon be excess seasonal stock.
He said that shopkeepers need to readdress the focus of the Sales period and re-establish it for its original purpose.