“Due to the effects of the pandemic, retail trends have shifted in the past months. Similar to the rest of the world, Maltese consumers have shown a preference to online solutions for their consumer needs” said The Malta Chamber President, Perit David Xuereb in a comment to Malta Today.
He also noted how this pandemic has impacted each and every sector differently especially in terms of traditional retail. “Certain sectors remain struggling while others are recovering slowly although revenues of previous years remain a distant ambition. The high fashion sector is suffering, with Chamber members reporting a drop of 50% of sales registered in this sector” said Xuereb.
This being said, other industries are slowly but surely recovering. “On a more positive note, beauty products seem to be on demand even though not on the same levels as last year. Moreover, luxury items such as watches and jewellery, have registered a positive trend,” said Xuereb.
“The drive towards a more digitally-savvy economy was reflected in an increased demand for electronic goods, as well as a drive towards contact-less business,” continued Perit Xuereb
The President however stressed that more needed to be done to revitalise the capital as “Valletta remains sluggish across the board, when compared to other shopping destinations, even though the start of the festive season did provide a much needed impetus.”