20/09/2004 08:34
According to CYSTAT data released on Monday, the volume of the retail sales in June recorded a drop of 1.1 points or 1% to 110.1 points compared to 109 points in May 2004. However, the price increase pushed the value index of the retail trade up to 120.1 points against 118.6 points in May.
Despite the drop in the volume of retail trade in June, the volume of retail sales surged 3.6% in the first half of 2004 compared to 2003. Due to the price hikes, the value index of retail sales climbed 5.9%.
Tourist and referendum affected retail sales
The drop in the retail sales in May and June is related to the decline in tourist arrivals, Chairman of Orphanides Super Markets, Christos Orphanides said. “The retail trade has been affected negatively by the referendum on the Annan Plan. The downward trend is partly attributable to the drop in tourist arrivals and the consumers’ psychology, which is still affected by the terrorist attack of September 11, the war in Iraq etc”, Mr. Orphanides said.
On the other hand, General Manager of Athienitis Super Market in Nicosia, Othonas Athienitis said that the referendum on the Annan Plan affected positively the turnover of the food sales. “There is an upward trend in the turnover for the past few years, which has been boosted by the drop in the price of certain products after the adoption of the common tariff and the harsher competition in the retail trade”, Mr. Athienitis noted.
The “T/C” factor
Despite the possible impacts on the retail sales from the tourist arrivals, the retail trade has been boosted by the crossing of the T/C in the free areas after April 23.
“The T/C buy certain products that are obviously more expensive or unavailable in the occupied territories”, Mr. Athienitis said. “Our sales have been increased after the opening of the checkpoints. The T/C are informed “from mouth to mouth”, Mr. Orphanides concluded.
Despite the drop in the volume of retail trade in June, the volume of retail sales surged 3.6% in the first half of 2004 compared to 2003. Due to the price hikes, the value index of retail sales climbed 5.9%.
Tourist and referendum affected retail sales
The drop in the retail sales in May and June is related to the decline in tourist arrivals, Chairman of Orphanides Super Markets, Christos Orphanides said. “The retail trade has been affected negatively by the referendum on the Annan Plan. The downward trend is partly attributable to the drop in tourist arrivals and the consumers’ psychology, which is still affected by the terrorist attack of September 11, the war in Iraq etc”, Mr. Orphanides said.
On the other hand, General Manager of Athienitis Super Market in Nicosia, Othonas Athienitis said that the referendum on the Annan Plan affected positively the turnover of the food sales. “There is an upward trend in the turnover for the past few years, which has been boosted by the drop in the price of certain products after the adoption of the common tariff and the harsher competition in the retail trade”, Mr. Athienitis noted.
The “T/C” factor
Despite the possible impacts on the retail sales from the tourist arrivals, the retail trade has been boosted by the crossing of the T/C in the free areas after April 23.
“The T/C buy certain products that are obviously more expensive or unavailable in the occupied territories”, Mr. Athienitis said. “Our sales have been increased after the opening of the checkpoints. The T/C are informed “from mouth to mouth”, Mr. Orphanides concluded.
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