Optimism for summer sales in the Balearics

Afedeco, the business association for Balearic retailers, is reporting that shops are quite optimistic about the summer sales, most of which started yesterday. The anticipation is that sales will be up by around 5% over 2014.
Some sales had started earlier, but the majority of retailers had followed Afedeco’s advice to stick to the traditional 1 July date, principally because this is when consumers expect them to start (market de-regulation does now permit earlier starts). The initial discounts will be between 30 and 40%, though they could reach 50%.
Retail sectors which normally benefit the most from the sales are clothing, footwear and cosmetics. However, this year it is expected that electrical goods, household appliances and furniture will perform more strongly: sales in these sectors have already improved this year, hence the expectation.
The Balearics is not the only region of Spain where there is said to be scepticism regarding the market liberalisation that was introduced three years ago.  The Spanish Confederation of Retailing suggests that there is scepticism across the country.
The retailers are, therefore, working on trying to reverse the de-regulation which enables some stores to start their sales earlier if they wish.
This would restore security and confidence for everyone, they say, especially for consumers.
Consumer confidence, it is believed, is at something of a record high with unemployment coming down slowly but positively and so directly influencing disposable incomes.
El Corte Inglés in Palma said yesterday that after a very encouraging spring season, it is expecting a good response from consumers to the summer sales.
The city’s two department stores opened their doors yesterday offering discounts of up to 50 percent with a surge in demand expected in summer clothing and beachwear as well as domestic appliances and furniture.