Odel, a leading up market retailer, says sales are lower this year compared to last year. Odel, a leading up market retailer, says sales are lower this year compared to last year. Retail sales are closely linked to inflation and shoppers perceptions about the way the economy is doing. Odel also depends on tourists for extra sales.
Odel MD says there is a drop in sales compared to the previous years. She said this at the launch of its new theme for the season “Bling it on” recently.
Indian Ocean tsunami and a peace process in limbo did not attract visitors to holiday and shop here.
Retail chains like Odel count on tourist traffic for sales.
“Tourism has dropped over the last couple of months and that always affects us,” says Otara Chandiram, MD, ODEL Unlimited
Odel, which recently opened an outlet at the upgraded Colombo airport terminal and also acquired land next to its flagship store which it was earlier renting, says the current situation in the country won’t affect business.
“It is good that the election was held in November. In a couple of weeks things wil