Spain's crisis: Year-round sales now OK in Madrid stores
Madrid’s government lifts sale restrictions to help stimulate the local economy.
Amidst the drama of last week’s demonstrations in Spain, Madrid’s local government quietly introduced changes that will allow shops to run sales whenever they wish – potentially to the detriment of independent retailers.
Previously, sales could only take place between January and March, and between June and September, for a maximum of two months on each occasion, reports daily newspaper ABC.
Spanish daily El Mundo highlights that this is one of several changes to commercial regulations introduced in recent years. These include allowing shops to open 365 days a year and waiving the licenses required to set up a new business.
Such changes are intended to reduce prices, increase sales, and stimulate the local economy, states Europa Press. They may be already working, as recent statistics point to the Madrid region remaining one of the most stable with regards to employment in the retail sector.
However, the media has largely ignored the fact that this change may sound the death knell for independent shopkeepers who are unlikely to be able to keep up with larger competitors.
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