In July and August 2013, Spanish apparel retailers offered discount to customers and it resulted in sales rising by 1.5 percent year-on-year during the two-month period, according to estimates from the Trade Business Association of Textile and Accessories (ACOTEX).
Month-wise, in July the apparel retail sector incurred an increase of 4.8 percent year-on-year in sales, however, in the month of August, the sales declined by 4.4 percent, according to the Fashion Trade Indicator, which is compiled by data from ACOTEX, reports modaes.es.
During the July-August period the apparel retail sales amounted to € 2,600 million, according to ACOTEX estimates.
Borja Oria, president of ACOTEX, said that during the spring-summer season from February to June 2013, apparel retail stores incurred a decrease of 9 percent in sales, due to the current economic environment marked by unemployment which has resulted into low purchasing power of the consumer.
The huge decline in sales during the first half prompted the retailers to give major discounts to consumers during the July-August sales period, which has resulted into a significant reduction in the profit margins, he added.