Although Irish retail sales grew by 3.7% in the first semester of 2017 compared to the corresponding period from the previous year (according to the latest Retail Monitor), Retail Ireland director Thomas Burke said that retailers "remain cautious and uncertain about what the second half of the year will bring in terms of trading performance."
Thomas Burke added that current prices are below the levels from 2008 and that this situation leads to retailers remaining addicted to "deep discounting as a means for driving footfall and additional spend."
Mr Burke also noted that the forthcoming Budget for 2018 could be an opportunity for the Government to address "these spiraling costs" and to support the retailers who are under growing pressure. "In this post-Brexit era, control of costs and a focus on our competitiveness will be essential to sustain the recovery in Irish retail, and avoid placing the sector at a major competitive disadvantage compared to counterparts in Northern Ireland or pure play online-only retailers based in the UK”, Mr Burke said.
Retail Ireland is urging the Government to ease the tax burden on Irish consumers and retailers, to retain the 9% VAT rate for some retail categories, such as food service, newspaper sales and hairdressing.
In addition, the Ibec group stresses the importance of the Government supporting the retailers who want to develop online. Retail Ireland is also advocating for investment in infrastructure and Brexit alleviation measures.
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