00:00Speaking on TV6 Morning Edition, Chairman of the Confederation of Regional Business Chambers, Vivek Charan, said that while there appears to be significant movement across the country on weekends, sales remain slower than usual for many businesses, based on feedback from chambers within the Confederation.
00:18But the feedback that I'm getting from the other chambers within the Confederation is that sales are slow and that sales are muted this year in many areas.
00:31He explained that the slowdown does not affect all sectors equally, as moderate activity is being seen in supermarkets and household goods, while other categories are experiencing slower movement as shoppers become increasingly cautious and price sensitive.
00:46This will not hold true for all sectors. So, for example, when it comes to supermarkets, when it comes to food and so on, I'm pretty sure we're seeing, you know, for them, things are going to be business as normal for this Christmas.
01:00People will indeed continue to buy food. You know, they will have robust sales everywhere else, though. It's not as, I would say it's not as robust as we would like it to be.
01:13Charan also noted that retailers are relying heavily on discounts and promotions to attract shoppers, with consumers increasingly focused on value and affordability this Christmas.
01:25I do see that, you know, there are a lot of sales in the malls. There are a lot of sales in shops.
01:32I mean, there's no, I think retailers are doing everything that they can do to get people inside.
01:37I've seen 50% sales, 60%, 30%. I've seen a lot of advertising on social media.
01:43I do see people attending. I'm seeing consumers attending to go towards where they feel they find the most value for their budget, the most value for their money,
01:55which is, I would say, you know, cheaper, budget-friendly, you know, easily, you know, financially available, I would say, stores and so on that makes it easier for them to purchase, you know, bulk for Christmas.
02:14He says the trend highlights a shift in consumer behavior this season, with shoppers focusing less on luxury spending and more on affordability as Christmas approaches.
02:25Charlotte Kisto, TV6 News.
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