Retail sector sources and associations have said that, while not all retailers have yet to see the bounce in trade, the outlook is extremely positive and encouraging.
“The decline in unemployment, the creation of new jobs and the revival of the local economy has served to boost consumer confidence, not to mention spending by holiday makers.”
The president of PIMECO, the small to medium business association, Bernat Coll, said that his members are confident that, come the end of the year, sales will be five percent up on last year, but there is still along way to go before we can start talking about a full recovery from the recession, but the indications are good.”
On average, Balearics residents are expected to spend 250 euros per person this Christmas, 33 euros more than last year and 12 euros more than the national average, according to the latest market research and the Christmas shopping period has got underway much early over the past few years thanks to the advent of Black Friday which every year becomes increasingly important to the retail sector as the starting gun for the festive sales.
Sources for the leading department store El Cortes Inglés said that, since the recession hit, price has been “fundamental” , but so have other factors such as customer care and attention, finance options, options of returning goods and quality service.
According to the Spanish Commercial Confederation, consumer confidence is currently riding at 99.4 points, the highest since December 2015.
“The political instability of the past year dented consumer confidence and put the brakes on the recovery of consumer confidence,” the report concluded.
Another factor which has also helped lift the spirits of the bar and restaurant sector is the recovery of the corporate and company Christmas party market.
The traditional group festivities all but dried up during the recession but the restaurant sector has reported a significant increase in demand this year - -the same can be said for the Christmas hamper sector.