Retail has the worst Christmas since the recession; associations point out
- Major retailers are already opening the sales deal season with discounts of up to 80%.
By: SiiLA News
Retail closes 2020 with the weakest year-end performance since 2015 and 2016 when the recession shrank the sector to about 7% at Christmas. Associations project numbers for December below those seen in previous years, reflecting the cut of emergency aid and a new wave of store closings and the reduced opening hours in the country. Major retailers are already opening the sales deal season with discounts of up to 80%.
Logistics chains and companies confirm stronger demand between the second and third weeks of December, and a slowdown after the 23rd, as it continues at a weaker pace this week," said Benhur Cezar, director of online retailer Estrela 10.
