Positive Summer Sales Trend in Cyprus Despite Market Pressures
The summer sales period in Cyprus is showing a positive trend, with increased demand particularly for footwear and clothing, according to the Secretary-General of the Cyprus Chamber of Commerce and Industry (KEBE), Philokypros Rousounidis. He noted that recent consumer activity has boosted market performance, with many products offered at attractive discounted prices.
Stefanos Koursaris, Secretary-General of the Pancyprian Organization of Craftsmen, Professionals, and Shopkeepers (POBEK), highlighted that discounts on clothing and footwear have reached up to 70%, creating favorable buying conditions. However, he pointed out ongoing challenges such as reduced tourism, rising costs of essentials like energy and fuel, and international developments impacting overall market sentiment.
Both leaders emphasized the growing use of online platforms by retailers to promote sales, and while a temporary €3 tariff on small parcels from third countries has not significantly affected consumption, they stressed the need for Cypriot businesses to adapt to global competition. POBEK also called for regulated sale periods to restore consumer trust in genuine discounts. The summer sales are expected to continue until late August.
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