The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Bahamian retailers yesterday lamented that Christmas sales were “down quite a bit” compared to previous years, with one telling this newspaper: “I don’t think anyone’s sales have gone up this year.”  

Steve Hoffer, chief executive of Hoffer Sport, one of the largest sporting goods retailers in the Bahamas, told Tribune Business: “I think it’s down quite a bit from last year.

“I haven’t gone over the figures but from what I have seen I believe so. Business is down in both our stores. I’m not sure what to attribute it to, but it’s down. I don’t think anyone’s sales have gone up this year. We will assess everything after next week or so, and look at how to approach the New Year; see how to buy and forecast.”

Mr Hoffer added: “You have to buy differently nowadays. A lot of people are now buying online. I think also that with VAT, people have a lot less disposable income, and a lot of people seem to be spending more money on gambling.”

A well-known retailer, in an e-mailed response to Tribune Business, said: “Sales were flat,which, under the circumstances, was about what we were expecting, and we were grateful to realise the sales that we had.

“Obviously, every Bahamian is waiting on the overall economic picture of the country to improve. However, it doesn’t seem likely that that is going to happen any time soon.”

Speaking on condition of anonymity, the retailer added: “The constant ‘false hope’ announcements on Baha Mar by the Prime Minister have not - and will not - help the situation. The PM and his Cabinet should only say something when he actually has something concrete in front of him. Until then, he should be quiet on the matter. That is how people who truly understand the nature of the business world do business.

“The country is tired of his ‘false dawn’ pronouncements on Baha Mar, and the uncertainty over NHI has everyone on edge. Needless to say, this government does not inspire confidence.”

The businessman added: “Some businesspeople in the country have already decided to close up shop, and many more may be forced to do so in 2016. Prepare for lay-offs in the New Year, as most Bahamian businesses cannot tread water forever, and they have been treading for some time now.

“This Christmas season may have been their last hope, and many did not realise the sales they were hoping for. 2016 will be another survival year at this rate, at best.

“There is simply no growth on the horizon, and we desperately need growth-oriented policies to improve the unemployment and crime situation. The Government’s inability to understand the need for growth is a serious problem, and has everything to do with the fact that they do not understand business or entrepreneurship in this globalised economy. They just don’t get it.”

Sarah Hugg, who now operates Shore Boutique on Cable Beach, told Tribune Business: “I opened Shore Boutique on Cable Beach about five months ago, so it’s hard to say as I have nothing to compare it with, but it is definitely better than downtown. There is more local traffic in this location thankfully - from locals, timeshare owners, Albany, hotel visitors, even on Cable Beach.”

  Ms Hugg said she closed her downtown business, Sarah’s Secrets, after 20 years back in June, noting that “the dynamics of downtown have changed”. She added that a combination of limited parking for locals, and tourists who no longer spend, mean Bay Street businesses find it difficult to survive.

  Christmas was more encouraging for Perfume Bar manager, Francessca Saracco, who told Tribune Business: “Christmas was good. We reopened the store on December 17. We were closed for renovations.  Fortunately, we caught the last rush. It was a nice rush.”