Sales in Belgium start on January 03 and end on January 31. The sales period is a breath of fresh air for retailers. However, this year, for over 85% of retailers, stocks are high.
Indeed, the Union des classes moyennes (UCM) reports that almost half of retailers are holding abnormally high stocks for this period. What's more, retailers say their sales have fallen over the past quarter. And few are looking to the future with any peace of mind, given the economic context, declining purchasing power and changing consumer buying habits.
Being a retailer in 2024 won't be easy, between customers' buying behavior and fluctuating costs. UCM is calling for tax incentives to be made permanent, and for them to be adapted to the new needs of retailers and the demands of customers.
The sales period is becoming more and more complicated due to increased competition from e-commerce, reduced consumer spending in the clothing sector and the perpetuation of the system of coupled sales and joint offers. Promotions have therefore become commonplace throughout the year.
Source : Trends Tendances