Posted: 3 years ago

Retail Sector has Yet to Emerge from COVID Crisis

Within 15 days of the opening of the retail sector, the sales rate has increased by about 10%, although the main share in the growth comes in the first week. There has been a 30-35% drop in clothing stores in recent days.

As for Retail Group Georgia, the decline in sales is not more than the expected rate, and if the trend continues, the issue of the existence or non-existence of the retail sector will not arise.

The company is talking about a lack of funds, which is why the expansion and hiring of new staff is no longer planned this year.

At the end of the week, already updated collections will appear in some stores of shopping malls. These are collections that were ready before the spread of coronavirus.

In order to bring in the next collections and maintain the jobs, the retail sector is asking the state to impose a discount on VAT.