(MENAFN- Jordan Times) AMMAN — Apparel merchants are resorting to sell goods at prices below the cost, to improve liquidity and survive amid the pandemic, according to a sector representative.
In remarks to The Jordan Times on Thursday, Asaad Qawasmi, a representative of the clothing and jewellery sector at the Jordan Chamber of Commerce, said that 'many retailers sell at prices lower than the cost, in hopes of attracting customers, clearing excess stock and ensuring liquidity'.
Qawasmi said that the expenses are stable, particularly the operational costs, but clothing sales have plummeted, noting that 'there has been a shocking drop in revenues since the onset of the pandemic'.
Regarding the reasons why some of the international brand stores left the Jordanian market during the previous period, he said that the high customs and taxes on clothing, as well as, the low consumer demand are to blame.
He urged the Kingdom's clothing retailers to set 'logical and reasonable prices' in order not to harm other merchants through unfair competition.
'The discounts need to drive more sales, not harm the merchants and the sector,' Qawasmi noted.
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