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Trade News Archive October 08 September 08 August 08 July 08 June 08 May 08 April 08 March 08 February 08 January 08
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9th October 2008
Jersey retailers turn to Sunday trading
Retailers in the channel island of Jersey are to tackle the credit crunch by extending Christmas shopping hours, the Jersey Evening Post reports.
The island's chamber of commerce said it will introduce Sunday trading over the festive period in a bid to counter economic woes and entice wary shoppers back to the high street.
Consumer confidence has hit rock bottom due to a raft of economic woes, ranging from the property downturn to the looming recession and increasingly damaging credit crunch.
Assessing the crisis, Ray Shead, vice president of the Jersey Chamber of Commerce, warned that the island "is not immune to what is going on [in the wider UK economy]".
Despite expressing his own belief that Jersey is "more in a downturn than a recession," he emphasised that this is unchartered territory for the island and so extraordinary measures are required.
"Normally there is about a six to 12-month gap, with Jersey following the UK," Mr Shead noted. "But because the UK downturn has happened so quickly we do not know if it will apply this time."
(c) 2008 Adfero Ltd.
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