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Egypt Independent: Winter sale not likely to boost clothes market

Sales that have been witnessing recession since floating of the pound, they used to boost sales by 30%, now it's expected to be not more than 10%.
30.01.17 | Interesting article at Egypt Independent

Several clothing manufacturers have underestimated the sale on winter clothes, which will start on Monday, saying it will not boost sales that have been witnessing recession since floating of the exchange rate indicating that the sale used to boost markets by 30 percent, however, it will surpass 10 percent in light of declining purchasing power.

Maher Shaalan, clothing manufacturer, said they urged Supply Ministry to bring this year’s sale forward from February 6, as scheduled, so it was decided to start on Monday to promote sales. However, he expected the recession to continue in light of hiking prices which caused the increase of production costs and then led to sales decline. He also indicated declining priorities to buy clothes as families have more important priorities like food.