The financial crisis and the increase in the utility tariffs have been blamed by retailers for the average to bad sales during the festive period, according to a survey conducted by the GRTU.

The survey, seen by The Times Business, shows that 37 per cent of respondents considered their sales in December to be bad, while 15 per cent said they were very bad and 33 per cent said their sales were average. Only 12 per cent of retailers said their sales were good and three per cent said they were very good.

The newly increased utility tariffs were highlighted by 22 per cent of retailers as having negatively affected sales during the festive period while 25 per cent of the respondents blamed the financial crisis. Other factors mentioned were increased competition (16 per cent), lack of client confidence (15 per cent), negative media (eight per cent), lack of quality tourism (six per cent) and an increase in fuel prices (four per cent). The only upbeat factors cited as having affected sales were the warm weather (two per cent) and positive business strategies (two per cent).

The survey also highlights the fact that the majority of consumers left their Christmas shopping to the very end. Fifty-six per cent of retailers said their best week of sales was between December 21 – 27; five per cent said it was between December 1 – 6; 14 per cent said it was between December 7 – 13; 17 per cent said it was between December 14 – 20; and eight per cent said it was between December 28 – 30.

Questioned how they would compare these sales to what they had expected, eight per cent of respondents said they were the same as expected, 30 per cent said they were similar to what was expected, 37 per cent said they differed to what was expected and 25 per cent said they were totally different to what was expected.

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