Member of the Division of Importers at Federation of Egyptian Chambers of Commerce Khaled Hatab said the spread of Coronavirus has affected sales of Mother’s Day gifts.
Hatab added that the sales of Mother’s Day gifts decreased to about 75% compared to previous years.
“It is very clear that the market has been affected and there is low demand, especially now that we are on Mother’s Day. This is due to citizens’ fear of shopping due to spread of the Coronavirus,” he explained.
He pointed out that prices of Mother’s Day gifts of housewares are relatively stable compared to last year, but sales declined anyway due to weak purchasing power of citizens.
He disclosed that there are price hikes of electrical appliances because of fears of shortage of Chinese spare parts and components due to COVID-19, noting that the spike does not exceed 5%. “The markets suffer from recession.”
Commercial malls and supply chains had offered discounts during the Mother’s Day on all products, and the discounts ranged between 15-50%, according to Hatab.
He explained that citizens were more interested in buying disinfectants, detergents, and food commodities.
The suspension of schools and universities and closure of shops and malls after 7 pm daily were also a reason for the decrease in Mother’s Day gifts’ sales, he concluded.