True to their tradition, textile and clothing shops in Spain have started offering discounts (rebajas) on the purchase of their products from the next day of Reyes, the day of the Kings, usually celebrated on January 6 each year.
Asociación Empresarial del Comercio Textil y Complementos (The Business Association of Textile and Accessories Trade or ACOTEX) expects 85 percent of Spanish citizens to buy clothes during the sales season, with an average expenditure of 82 euros, down 3.5 percent compared to last season.
ACOTEX attributes the likely decline in clothing expenses this season to the current economic crisis in the country, stoppage of extra pay to public employees this year and a general cautious attitude of citizens in their savings and expenditure.
ACOTEX estimates total sales of €3,600 million during the January and February rebate period, contributing more than 20 percent to yearly sales.
The textile and apparel businesses are offering discounts ranging from 50 to 70 percent to encourage consumption and prevent drop in sales.