Madrid (EFE).- The high influx of foreign tourists expected for this summer and the purchases of clothing, footwear or cosmetics due to the pull of the sales campaigns will act as a lifeline for commerce for the last semester of the year, according to the forecasts of the different employers from both sectors.
Exceltur, the alliance that brings together the main tourism companies, foresees a summer in record numbers, with sales that exceed pre-crisis levels. This circumstance will raise spending and increase purchases that indirectly affect the retail trade sector in those regions and areas with a large influx of travelers.
This employer corrected its forecasts for the second half of the year on the activity generated by the different subsectors (accommodation, transport or leisure) upwards, from 2.2% to 9.4% more than the end of 2019 (pre-pandemic), although under the yoke of high inflation.
From Acotex, the Textile and Accessories Association, they have warned of a first monthly drop in the interannual rate of the year in relation to sales after 4 months of continuous increases, since in May they fell by 5.7%.
The president of this employer, Eduardo Zamácola, described the data as “the first alarm signal.” This setback, in his opinion, is due to the rise in interest rates and, therefore, in mortgages that weigh on families’ pockets.
“It is observed that the consumer is once again showing reluctance when buying clothes,” said the president of Acotex, who warned in the presentation of the data and forecasts for the sector of a “certain suspicion and uncertainty” for the end of the year “with elections in July.
Pending purchases, for sales
In general, Zamácola has insisted that the textile sector is still “very far” from the pre-pandemic figures and has specified that it does not have positive forecasts for the whole of this year.
However, the manager has underlined the upturn in the influx of tourists and its relationship with purchases of fashion items and accessories, which already in 2022 accounted for 65% of the disbursement of these travelers on visits to Spain.
The Organization of Consumers and Users (OCU) comments on the purchases that three out of four families “live from day to day and without the ability to save.”
The OCU therefore considers that many families will take advantage of the summer sales to face the purchase of clothing and footwear that was pending.
Optimism in small businesses
The local trade hopes for this sales campaign to be able to dispose of the accumulated inventory after a spring marked by rain and low temperatures, “which have made sales difficult, especially in the personal and home furnishing sectors,” he explains. the Spanish Confederation of Commerce (CEC).
The sales forecast in the sector is 5% more than in last year’s sales, although they will continue to be below pre-pandemic levels, adds the CEC.
In line with Exceltur, the CEC predicts a “greater revitalization” of sales in those businesses located in territories with greater dependence on tourism, such as coastal areas or large capitals.
Consumer confidence, a mystery
Consumer confidence rose in May for the second consecutive month, mainly due, according to the Center for Sociological Research (CIS), to the positive evolution of its two variables: the assessment of the current situation and also of future expectations.
On the other hand, a consumer outlook report prepared by the Kantar consultancy indicates that more than 40% of Spaniards believe that the smartest attitude at this time is to reduce their level of consumption due to inflation.
The year 2023 “appears to be conservative for consumption due to the concern caused by the country’s economic situation,” the study concludes.
He stresses, however, that the Spanish are going to prefer to leave the purchase of goods that involve a long term and a great effort, such as cars, housing or the application for a loan, on the siding, and will direct their purchase intentions to the day by day and more modest disbursements.