Liberalisation of shops opening hours stimulates trade

According to the Finnish Commerce Federation, sales for grocery stores and department stores have risen in the first half, despite food price competition, but retail sales growth threatens to dwindle to almost nothing in the future. The reason is that consumer purchasing power growth will stop next year. “Without the government’s promised income tax relief package, purchasing power will diminish and retail sales will dive into the red again next year,” said Finnish Commerce Federation Chief Economist Jaana Kurjenoja. The new possibilities for opening hours have been utilised mostly by groceries and department stores. The number of employees has also increased by about 2,500 compared to the first half of last year. (Finland Times)



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