This year’s summer sales in the Canary Islands, due to finish at the end of August, have failed to bring any relief for the embattled retail sector.
Despite huge discounts, actual sales are reported down by anywhere between eight and 40 per cent compared to last year, according to the president of the Federation of Commerce of the Canary Islands (Coreco), Luis Miguel.
According to insiders, even the sector’s fairly modest expectations have not been met with the only bright spot coming in the first two-week rush.
It seems that despite the lure of discounts advertised at up to 80 per cent, people are staying away, fearful of the deepening depression and their own personal financial situation.
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