The retailing business of the country is facing a major slow down in the history of finance ever before. According to various economists the country is facing a lot of challenges on the financial sector. To be more specific, the retailers of the country are on the process of slowing down due to various reasons.
Country’s reputed economists and analysts feel that the retailing business was at its top a year ago due to the need in the customer’s mind and the well to do factor of the customer’s buying capacity. Comparatively speaking this year’s Easter sale is in a 0.9 percent low across the country. The main reason is that the Easter which falls on a Sunday comes little late when compared with last year. Last year Easter was celebrated on the 4th of April while this year it falls on the 24th of April. This late coming of Easter has made the customers to lose their intensity in shopping and buying things when compared to the last year’s buying capacity of the people. As the country’s finance and business is always tangled with one another like that of a chain, one problem affects the other. The rate of unemployment went down to a very low level of 8.8 percentages while on the other hand, there was witnessing of the nonfarm payrolls to rise. None can deny the fact that these things have had a greater impact on the finance world.
Retail strategist John Long of consulting firm Kurt Salmon very clearly expresses that the inflation is doing all the things it can in terms of negativity and the hike in the fuel prices is itself is a very good example. The International Council of Shopping Centers has stated the sales hiked by a 2.8 percent in the last week. The S&P’s retail index was found to be in a great hike of 1.2 percent which is actually an overall upliftment in the 2.4 percent rise from February. Due to the un restful conditions that are being prevailed in the northern Africa and middle east countries, the price of the gasoline has increased tremendroulsy to a 3.66 dollar per gallon. The last year’s price of the gasoline was $2.83.
As the cost in the field of transportation and cotton increased, the clothing and other materials related to habitual activities will increase in this year, according to sources which will make the customers to worry.
By: Teni Sow | Senior Editor at Tambapress.com and Regular Contributor to Presspresser.com
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