Italians spending half as much on January sales as in 2009
Mom-and-pop stores crushed by multinationals in shrinking market07 January, 15:33
Italian families this year plan to spend an average of 200 euros on heavily discounted retail goods, or 55.5% less than in 2009, when they spent an average of 450 euros.
Retailers reported trade plummeted by as much as 30%, with outlying locations and small retailers crushed by competition from outlets and big foreign chains, according to Codacons.
"We estimate business will contract by 12.5% over last year," said Codacons President Carlo Rienzi. "We need market liberalization. Retailers must be left free to choose how much to discount their goods, or neighborhood stores will disappear from our cities, which will be taken over by foreign multinationals".