20 July 2018

Forecast of retail industry in Ireland

Forecast of retail industry in Ireland

Retail is the sale of goods and services from individuals or businesses to the end-user and retailers are part of an integrated system called the supply chain. A retailer purchases goods or products in large quantities from manufacturers directly or through a wholesaler, and then sells smaller quantities to the consumer for a profit. Retailing can be done in either fixed locations like stores or markets, door-to-door or by delivery.

According to the reports, the first quarter of 2013 will be a key indicator of the health of the retail sector. As per the survey made by IBEC, at present only 6% of retailers rate their business as being in good health, with 31% saying they are in poor shape, and 63% describing their business as average.

According to Stephen Lynam, director of Retail Ireland said that the fourth quarter of the year 2012 was crucial for retail sales, and the first quarter tended to be equally important, in terms of business sentiment. He also said that the government has to provide an important stimulus in boosting longer-term consumer and retailer confidence. He also added that the retailers continued to be concerned, inspite of the increase in sales in recent months. Ireland’s domestic economy remains in a very brittle state and only the government can give consumers the stability and confidence.

According to Retail Ireland’s data, retailers now have believed that in 2013, there could be a significant upturn in sales.

Source: irishexaminer.com

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