International Internet Magazine. Baltic States news & analytics
Wednesday, 24.08.2016, 19:11
Clothes and footwear in Estonia more expensive than in elsewhere in Europe
CBI points out Estonia in a table that includes France, Germany, Italy, Holland and Spain, as a weird phenomenon, side by side with Greece where clothes became by 1.3% more expensive, writes LETA.
Estonian retailers justify the high prices with smallness of market but in reality the margins they add to clothes and footwear brought from wholesale warehouses are much higher than their colleagues elsewhere in Europe add.
According to the Statistical Office, the margin added by retailers trading with clothes in Estonia fluctuated at the exceptionally high level of 59–86% last year. The European Union average was an estimated 45–75%. The higher end of this margin dates to the fourth quarter of the year when there is the Christmas time shopping boom and the smallest margin to the first quarter which is characterised by discount sales.