FLORENCE, ITALY – Today Florence and the other cities in Tuscan Region enjoys the first day of January sales (on January 3rd, 2015). While Italian businesses said free-spending tourists will help to boost traditional January retail sales events, consumer groups warned that families are too tapped out after years of recessions to shop.
Christmas sales were understated: the volume remained essentially the same as in 2013, so these winter sales are very eagerly awaited, shopkeepers will start off immediately with big discounts in the hope of inverting the trend, according to the associations of the Commerce in Italy.
Italy’s hard-hit retail sector needs the help, as it struggles to survive the long-running recession. The country has not been able to shake off hard times that date back to 2008.
The economic downturn has driven up overall unemployment to 13.2% while youth joblessness has skyrocketed to 43.3%. The hope is that 2015 will mark the end of a negative trend that has been going on for more than seven years.
“Families get to the start of the end-of-season sales with wallets already empty from the spending for Christmas and the end of the year,” Codacons said in a statement. Sales will be down 8% compared to last year with families spending no more than 184 euros each on average, Codacons predicted. Only 35% of families expect to make purchases during the sales season and many stores already have begun somewhat camouflaged sales by sending emails and messages to consumers with personalized promotions. (Photo: Massimo Lensi, 2014)
Discover more from Florence Daily News
Subscribe to get the latest posts sent to your email.