By: BusinessWorld
LOCAL retailers remain optimistic about strong holiday sales despite the threat of the potentially more contagious Omicron coronavirus variant.
Retailers are looking forward to “revenge spending” during the holiday season, said Steven T. Cua, president of the Philippine Amalgamated Supermarkets Association.
“Barring any strong negative effects or impact from the Omicron variant, the retail industry is hoping to reap handsome sales from revenge spending by consumers this Yuletide season,” he said in a phone message.
“This hoped-for revenge buying won’t compensate for the tremendous drop in sales since the initial lockdown, but it should partially make up for lost sales,” he added.
Further, Mr. Cua said retailers should enforce safety protocols, avoid overstocking to reduce carrying costs, stock up on products, and instill discipline in personnel and customers to prevent prolonged lockdowns.
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