High street spending up, but small shops feel the pinch

WHILE cashiers at larger shops and chain stores are rubbing their hands this Christmas, small shopkeepers have reported another quiet year in terms of sales in the run up to New Year.

The owner of a gift shop on Ledra Street in Nicosia’s old town said business had been quiet: “I would say it’s about the same as last year. People are still very reluctant to spend. They are very careful with their money. And those who are more affluent prefer to take shopping trips to Athens, London or Beirut.”

Melios Georgiou, President of the small shopkeepers association POVEK, said while larger stores had profited this Christmas, smaller shops and businesses were feeling the pinch.

“People are spending, but business in small shops is certainly down. Especially clothes and food stores. The big shops take away this trade.”

A manager at Debenhams in Nicosia confirmed sales had been good over the Christmas period: “We’ve had a good season and there definitely hasn’t been a fall.”

A spokesperson for foreign clothing chain Terranova said business of its Ledra Street outlet had been excellent.

“We’ve had a 130 per cent increase this December. But generally the whole year has been good.”