Recent days have seen a noticeable increase in market activity in Cyprus, particularly following discounts in clothing and footwear, with store owners focusing on clearing their winter stock.

Marios Antoniou, General Secretary of the Cyprus Retailers Association (PASYLE), stated to Brief, "The current sales-driven activity is very good, leaving us satisfied." He added, "This weekend, being the first significant one for sales since the holiday period, is expected to see even higher traffic in stores. Clothing and footwear are especially popular."

Regarding the discounts, Mr. Antoniou noted that this year's sales are better than in previous years, a sentiment echoed by consumers themselves.

Explaining the reasons for larger discounts this year, the PASYLE Secretary General cited, "The main reason for better discounts is the warm weather and temperatures recorded up to now, which have not favored clothing and footwear sales. These sectors would have performed better with cooler temperatures in October, November, and December."

As a result, he emphasized, "Stores are offering higher discounts in an effort to sell off their winter stock and avoid leftover winter garments like coats and jackets."

When asked about the range of discounts, Mr. Antoniou mentioned, "While in other years discounts ranged from 20% to 30%, this year we see cases where discounts may reach or even exceed 40%."

Stefanos Koursaris, Secretary General of POVEK, mentioned that discounts are within the 20% to 40% range.

On market movement, he said, "The market during the clearance period, especially for clothing and footwear, is more active compared to the holiday season. We don't expect miracles," he added.

Mr. Koursaris, emphasizing that each store applies its own discount policy, explained, "Due to our small market, we don't see 70% to 80% discounts. This is entirely logical given our small-scale economy."

Regarding the clearances in general, the POVEK Secretary General stressed, "At POVEK, we insist that order needs to be established in retail. We don't hide that the current chaos in these sectors benefits and is tailored to the market's giants, including supermarkets, chain department stores, and department stores."