2011 Christmas is the worst for Italian retailers in 10 years
The 2011 Christmas of the year was the worst for Italian retailers to profit in the last 10 years, as the government’s savings measures in the fight against the debt crisis provoked a reduction in consumer spending, according to data from the Italian research organization Codacons. In particular, according to company estimates, Christmas expenses per person in Italy averaged only 48 euros, which is less than the average for the last 5 years. At the same time, the greatest impact was on the footwear and clothing sector, where Christmas sales fell by 30% compared to the same period last year.
In addition, the company is worried about the upcoming winter sales season in January. “It will be a failure,” Codacons President Carlo Rienzi said in the message. “Families don’t have the option to spend on non-essential assets, even with seasonal discounts. The decrease in the volume of consumer purchases can reach 30-40% compared to last year. "
Last Thursday, the upper house of the Italian parliament (Senate) adopted anti-crisis measures proposed by the government of Mario Monti aimed at stabilizing the economic situation in the country. Anti-crisis measures in the amount of 33 billion euros for the next three years were approved by the government in early December and adopted by the Chamber of Deputies on 17 on December. They include a number of steps aimed at achieving Italy a balanced budget in the 2013 year.
According to experts of the Federconsumatori research organization, each Italian family will cost 1,129 thousands of euros in a budget savings plan.
The level of consumer confidence in Italy in December fell to its lowest level in the last 16 years, while the country's GDP in the third quarter decreased by 0,2% compared to the previous quarter. At the same time, the country's authorities expect a further recession in the Italian economy, which could mean the fourth recession since the 2001 of the year. So, a country can return to GDP growth only in the second half of the 2012 year. It is reported by RIA Novosti.
The 2011 Christmas of the year was the worst for Italian retailers to profit in the last 10 years, as the government’s saving measures in the fight against the debt crisis provoked a reduction
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Retail Arithmetic
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