Retail Excellence Outlines Key Needs For Industry In Election Manifesto
Retail Excellence has has prepared an election manifesto document, putting forward the key requirements that have been communicated by its members.
The group which represents over 2,000 leading retail companies who operate in the Irish market, outlined the following key elements: Tax Fairness; Consumption Tax: Cost of Employment; Competitiveness; Online Support; Retail Finance; Increases Resources For Authorities To Combat Crime; Town Renewal; Rates; Minister For Retail; Upward Only Rent Reviews and Insurance Reform.
'With record numbers in work, unemployment figures at an all-time low and economic growth remaining strong for the wider Irish economy, it is clear that Ireland has regained some of its purr from the days of the Celtic Tiger,' the group said.
'What this means for Irish retail is a little less clear. While sales trends recorded in the industry demonstrate an upward trajectory - albeit marginally so - it is imperative that we put what these mean firmly in perspective, ' Retail Excellence said in a statement.
It highlighted that the overwhelming picture 'being consistently painted' since mid-2019 shows that a degree of vulnerability continues to exist within the industry.
While figures might be marginally up, this has occurred at the expense of intensive marketing campaigns undertaken by retailers and consequentially reduced margins.
Latest figures also show that Irish retailers operate 45,000 businesses with 282,000 employees directly employed in the industry (the largest private industry employer in Ireland) and an associated employment multiplier effect which increases that figure exponentially.
As a direct consequence of retail activity, €7 billion is contributed to the Exchequer on an annual basis.
© 2020 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click subscribe to sign up for the Checkout print edition.