Finnish Shopkeepers Struggle Against Falling Sales - Information portal

Finnish Shopkeepers Struggle Against Falling Sales

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08.08.2013 Количество просмотров 498 views
closedAccording to the Finnish Commerce Federation, close to 13% of companies closed down operations between the start of January and the end of April. Hardest hit by the fall in sales were retail shops, 16% of which closed. Small specialty shops in particular have been hard hit by competition from online retailers located abroad.

"There have been warnings of this development for years and now it looks to be coming true," says the Commerce Federation's Chief Economist Jaana Kurjenoja.

The group forecasts a 4% fall in overall sales, 1% for general retailers, this year. Wholesale figures are expected to decline 4% and car sales by around 13%.

Next year's prognosis is for growth of perhaps 2%.

Around 300,000 people in Finland are employed in retail sales, making it the single largest employment sector in the country.


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