Palma.—More than 70 percent of retailers in the Balearics belonging to the small business association “Afedeco” are saying that takings from summer shopping are either not that good, poor, or very poor, an association spokesman confirmed yesterday.

The remainder of those polled in a survey of 371 retailers around the Islands said that business was “good” but not one, said the Afedeco spokesman, has described trading as “very good” or “excellent.” The association also noted during its interviews that as many as 43 percent of participants were of the opinion that a real improvement in business wasn't going to be seen for another four or five years. Whilst 18 percent of interviewees said it would take more than five years to recover, 32 percent predicted two years would be sufficient to see an upturn in trade but 7 percent believed that the scenario was never going to change.

In comparison with the same period in 2010, Afedeco's findings show there are now 25 percent who believe that trade is “poor,” up from 17 percent last year, and 7 percent who say that it is “very poor,” up from 2 percent in 2010.

It is clear, said Afedeco, that as well as summer trade this year being a disappointment to smaller businesses, there are now more people who think that business is going to take longer to recover than originally thought. Expectations have ceased to run high, the association said.


To be able to write a comment, you have to be registered and be logged in.

* Mandatory fields

Currently there are no comments.