Traditionally, Christmas signified a major boost for many businesses in the retail industry in Barbados, especially food items and hardware. However, the recession has continued to produce lower numbers and it is possible this year will be no different for the business community.
David Neilands, Managing Director of Super Centre Limited, stated: “I will remain optimistic because there are still opportunities and it is important to drive your business, but the reality is the market has decreased.”
Speaking to Business Monday last week, he stated certainly it is more difficult than it was this time last year, the recessionary difficulties have become broader.
“However, as the winter season approaches, tourists as we know don’t have the disposable income that they had before. People say you have to eat, but generally people have to be more careful with their expenses. Most persons in the industry are trying to ensure they are offering affordable prices, but even that said it is a tough time.
“Personal allowances removed, price of oil is affecting everyone and those factors coupled with rising commodity prices worldwide are having an effect on everything.”
Neilands added, “In our industry we have to reinforce to the public we need to be supporting local products as strong as we can. However, there are challenges there because some of the products such as pork, chicken and meat, in general, have gone up because of the price of feed. There is a lot of interconnected factors that are making the situation difficult for Barbadians.
“It is not a optimistic time of the year even though retailers expect to do better, because it is that important quarter leading to the end of year. I think that it is evident that people are finding it harder and the offerings out there have to be as close to possible to what people can manage.”
In terms of the local farming community, he indicated, “The weather has not helped the situation over the last few months. Cucumbers and carrots are now beginning to be available again; those things would have been in short supply, but we are beginning to turn a corner with the weather.”
Michael Edwards, Managing Director of Carters General store, echoed similar sentiments. He added: “I am hoping business will pick up, it is quiet and in these economic times it is hard to predict, but a positive is that we have maintained our staff.”
According to him, “In general most businesses are hoping for a reasonable Christmas, I don’t expect it to be a bumper Christmas. As for next year, it is hard to project because nothing has changed in the global economies we are dependent on, therefore not much has changed in business locally.”
Source-Barbados Advocate
