Commercial activity is showing a positive trend during the summer sales period, with greater demand for footwear and clothing, the Secretary-General of the Cyprus Chamber of Commerce and Industry (CCCI), Filokypros Roussounides, told CNA on Friday. The Secretary-General of the Pancyprian Organisation of Craftsmen and Shopkeepers (POVEK), Stefanos Koursaris, notes that the market continues to be affected by reduced tourism, high prices and international developments.
Sales boosting trade
According to the CCCI Secretary-General, the summer sales are "boosting" commercial activity among both consumers and shopkeepers, noting that "this is something that generally stimulates the market" and that several products are being offered at more attractive prices.
Discounts up to 70%
For his part, the POVEK Secretary-General told CNA that "clearance sales in clothing and footwear are currently at their peak," noting that discounts have exceeded 50% and 60%, while "there are even 70% discounts still available."
"So, we are in a very good period for shopping," he added.
Koursaris said that the biggest discounts concern clothing and footwear, as well as electrical and electronic goods.
Pressures on the market
At the same time, however, he noted that "two developments" have had a negative effect on the market, referring to international developments and the decline in tourism, both in terms of visitor numbers and their spending, as well as the high cost of living, which he said dominates essential goods, electricity and fuel.
School year ahead
Regarding the product categories showing the highest demand, Roussounides said that this period mainly concerns "footwear and clothing," noting that with the start of the school year a few weeks away, purchases of related items are expected to increase.
