Holiday Season in Cyprus: Retail Booms as Entertainment Venues Face Challenges
The Market in Urban Centers Underperformed
"Christmas Day was not good for everyone," remarked Fanos Leventis, General Secretary of the Cyprus Association of Recreation Center Owners, describing the contrasting market scenarios observed during the Christmas period.
Supermarkets, butcheries, and shops were overwhelmed with consumers preparing for the Christmas feast and buying gifts. However, the recreational centers seemed to struggle with mediocrity.
Leventis, in his statement to Brief, noted that recreational centers, especially those in urban areas, not only failed to meet expectations but also faced a wave of reservation cancellations.
He added that the number of cancellations was so significant that some recreational centers could not operate.
Leventis pointed out that the market in urban centers underperformed, contrary to the trend in recreational centers in mountainous areas, which saw a large influx of citizens choosing to go out instead of staying in for family dinners.
Regarding the operating hours of recreational centers, Leventis mentioned challenges due to the holidays falling on weekdays rather than weekends. Their request to operate the centers until 3 AM was not accepted, which, he believes, negatively affected their operation.
Notably, on Christmas Eve, there were several complaints filed by the Police, particularly against recreational centers in Paphos, for violating operating hours.
Leventis expressed optimism about increased activity for the New Year celebrations.
Conversely, supermarkets, butcheries, and shops experienced increased footfall.
Marios Antoniou, General Secretary of the Cyprus Retail Association, told Brief that the market activity was heightened, as evidenced by the increase in retail trade turnover.
According to Antoniou, the footfall recorded in the last few days in supermarkets, butcheries, footwear, clothing, technology, and gift shops has left store owners satisfied. Based on data, 2023 is set to be recorded as a very good year for retail.