Ticino Retail Sector Struggles During Summer Months: Hopes for Improvement in Coming Months

2023-11-10 18:06:12

The period from July to September saw activity slow down more sharply than expected, reports the president of Federcommercio, stressing that the arrival of summer and tourists did not have the expected positive effect.

The retail sector had a difficult summer south of the Alps. In addition to the difficulties already reported relating to the erosion of purchasing power, Ticino traders benefited much less than expected from the tourist influx between July and September.

While across Switzerland as a whole, a certain optimism still prevails in the sector, the heterogeneous data from Ticino offers a mixed picture. This uncertainty, which concerns business performance, sales volume and customer traffic, is observed among small as well as medium-sized and large businesses, the cantonal statistics office indicated on Friday in its periodic survey.

The outlook, on the other hand, is optimistic, with all players in the sector, regardless of their size, counting on an improvement in business performance over the coming months, “probably in anticipation of the end-of-year holiday period”, say the authors of the study.

The third quarter saw activity slow down more sharply than expected, reports the president of Federcommercio, Lorenza Sommaruga, stressing that the arrival of summer and tourists did not have the expected positive effect, whether in terms of sales volume or attendance.

“It is now obvious that the pressure on consumers’ purchasing power is increasing, a phenomenon partly exacerbated by the increase in the price of goods, which also affects traders,” noted the head of the umbrella organization, cited in the document.

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Faced with an uncertain balance sheet, a race against time has begun for the sector, continues Ms. Sommaruga, who is optimistic for the coming months, thanks to exceptional Sunday openings and Christmas sales.

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