Lebanon Businessnews News
 

Malls get boost during Christmas weeks
24,000 visitors per day at Citymall
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Malls have witnessed a quick sales resurgence during the two weeks preceding Christmas. Shoppers usually favor malls during this season because they offer a full shopping experience, and because of the entertainment programs they provide for families, according to Tania Ezzedine, marketing manager at ABC Ashrafieh.

The retail performance has surpassed expectations. Ezzedine said: “We have achieved double digit growth compared to the less impressive figures of November. Our sales rates have surprisingly risen above our outlook for the season this year.”

The BTA-Fransabank retail index analyzing the performance of the third quarter of 2012 had reported less cheerful results. The index for the months of July, August, and September showed a year-on-year drop of around eight percent. Retailers had pinned high hopes on the holiday season. Rony Aoun, mall director at City Mall, Dora, said that they have been unexpectedly receiving around 24,000 visitors per day during the last two weeks. “We are expecting the figures to rise as expatriates have now started to arrive.”

Aoun said that shopping trends were not affected by the overall economic slowdown: “People who are used to buying jewelry for gifts did not switch to clothes because of the economic situation.” City Mall’s overall performance during 2012 was not as positive as the overall 2011 results, but both Christmas seasons were much alike in terms of sales.

According to Ezzedine, shoppers are mainly going for kids’ toys, fashion, and jewelry.
Reported by Rana Freifer
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Date Posted: Dec 21, 2012