Saturday 25 September 2021

What To Expect In Costa Rica’s 2020 Retail

The key to economic revival is formality in employment. More than one million people work in informality.

Paying the bills


Canadian airlines will start flying back to Costa Rica on October 2

QCOSTARICA - Four Canadian airlines will resume their flights...

8-year-old boy dies abruptly of covid-19

QCOSTARICA - An eight-year-old boy who had no risk...

Vaccinations face unfounded fears over AstraZeneca dosages

QCOSTARICA - The goal of immunizing 500,000 people over...

There are potholes and then there are potholes!

QCOSTARICA - Imagine your vehicle being devoured by a...

Today’s Vehicle Restriction September 25: “EVEN” ending plates CANNOT circulate

QCOSTARICA - For today, Saturday, September 25, vehicles with...

Legislators to begin discussion on reducing the 2022 Marchamo this Monday

QCOSTARICA - The political fractions, except that of the...

No National Census in 2022!

QCOSTARICA - The Instituto Nacional de Estadística y Censos...
Paying the bills


After recording a decline in sales and loss of formal jobs this year, Costa Rica’s retail sector predicts a rebound in revenues for 2020.

The current year has been a year of economic and retail contraction, mainly because of the loss of consumer confidence and the consequent reduction in sales, which in turn reduced the capacity for investment and employment generation by companies, says a statement from the Camara de Comercio de Costa Rica (CCCR) – Costa Rican Chamber of Commerce..

- Advertisement -

According to the CCCR, from the 1st Quarter 2018 to the 3rd Quarter 2019, informal employment in the retail sector increased by 24% and formal employment decreased by 22%, demonstrating a shift from the formal to the informal sector.

The report notes that “… By 2020, the Chamber of Commerce of Costa Rica has identified some priority areas or issues for the sector, which should be on the agenda of the Alvarado Administration. These issues are: Promotion of Business Formality, Fight against Smuggling and Illicit Trade, and Trade Facilitation.”

Yolanda Fernandez, president of the CCCR told that “… they are optimistic for 2020, with prospects for stabilization and the beginning of recovery, both because it is expected a rebound in consumer confidence and because the impact of the Law to Strengthen Public Finance (tax reform) would already be diluted, after six months of implementation. The combination of factors would make the consumer decide again to buy again.”

Regarding consumer confidence levels, the most recent report from the University of Costa Rica *UCR) explains that, despite the fact that between August and November 2019 the confidence index increased 13%, consumers still have a significant degree of uncertainty.

For the rest of the year, the CCCR expects Christmas sales to increase 10% compared to the same period of 2018.

- Advertisement -
Paying the bills
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Athleta women’s brand opened its first store outside North America in Costa Rica

QCOSTARICA - Gap Inc.'s Athleta brand announced the opening in Costa...

Christmas in August? Some stores are already selling seasonal items

QCOSTARICA - Christmas comes early to stores, typically around August when...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.