Procos aims to "Act for a compelling retail environment", regardless of the economic climate. The federation, dedicated to promoting specialised commerce, held its biannual press conference on July 10th. This event provided an update on the first half-year activity across specialised retail sectors and emphasized Procos's commitment to shaping a positive future for commerce.
The federation reviewed the first half of 2024, marked by challenging weather conditions impacting store sales, including the home goods sector. Foot traffic in stores declined by 6.1% compared to June 2023, reflecting the toughest period since the beginning of 2024.
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'Our new mission "Act for a compelling retail environment" revolves around three key pillars: inspiring consumers, engaging employees, and enhancing retail spaces. Retailers and the retail sector hold their future in their hands, but collaboration with local authorities, suppliers, landlords, universities, and like-minded stakeholders is essential to foster desire,' states André Tordjman, President of Procos.
Despite an overall store sales increase of 2.5% matching inflation levels, specific sectors like furniture and decoration faced substantial declines due to ongoing housing market challenges and consumer behaviour changes post-high inflation.
Procos highlighted the urgent need to implement the rent payment protocol swiftly to assist retailers amid high inventory levels and economic uncertainties. The federation underlined the importance of fostering a supportive retail environment and reiterated its commitment to collaboration, fairness, and investment in retail personnel and infrastructure for a vibrant and sustainable commerce landscape.
More information:
Procos
www.procos.org