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Growth in Retail Confirmed Ahead of Christmas Season


Retail industry sources have confirmed that that the value of sales grew by 4.1% in the third quarter of the year when compared to the same period in 2016. The report also shows that most retail categories experienced an increase in performance during the quarter.

The growth level of 4.1% is a welcome boost which may match the significant increase in our cost base including rents, contributions, energy and the significant rise in the Minimum Wage of excess 7%. Retailers in North Wexford are unlikely to jump with joy at the news as it seems to be a case of “take with one hand and give back with another”.

This is why the main Christmas shopping season is vital to our end of year performance and could well be a defining factor for some of our Members. The key advice is to target value for money especially in the supermarket and pharmacy sectors to offset deflation and importantly also in the fashion/beauty sector to offset the attraction of the strong Euro on dollar/sterling online shopping portals. Online sales could yet again rise sharply as the Euro continues to rise, especially against sterling. So the strong advice is:

 

  • Continue marketing right to the last run in to Christmas.
  • Make value for money your key offering.
  • Keep costs as low as possible and trade at times best suited to your own experience.

 

Gorey Chamber is here to assist in any way. If you are running special promotions or event lets us know and we will market them for you.


Diarmuid Devereaux,

CEO,

Gorey Chamber of Commerce.

 

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