Benvenuti: Sales suffer in Bucharest because of large number of malls

Oradea-based footwear and leather products retailer Benvenuti calculated a 25% lower average till receipt (in RON) in the first half of this year compared with the similar period of 2008.

"Customers now buy less often, with the average value of the till receipt falling from year to year. In the first half of 2008 the average till receipt amounted to 132 RON (around 36 euros i.e.), it was 121 RON (29 euros i.e.) in the first half of last year, and now it's 106 RON (25 euros)," Adrian Câzu, store manager of Benvenuti, told ZF.

The company recorded 3.7 million euros (15.9 million RON) in turnover in the first half of this year, a similar level to that recorded in the first six months of last year, but 37% less in euros, compared with 2008, when it posted 5.1 million euros (18,5 million RON).

"Stores in Bucharest and in big cities post bigger sales than smaller towns, such as Satu Mare, Deva, and Alba Iulia. However, there is a bigger sales decline in Bucharest because there are already too many malls and shopping centres, which "share" customers," says Câzu, who admits the VAT increase further dampens consumption.