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Spanish shops promote New Year sales to combat crisis
Last Updated: 2013-01-08 10:07 | Xinhua
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The winter sales period started on Monday in Spain with big scale price reductions in the post-Christmas period, in a bid to stimulate consumption amid the stagnated economy.

Shops are trying to combat the low domestic demand by offering price reductions of up to 50 percent or even 70 percent.

These "aggressive discounts" are part of a strategy carried out by shops with the aim of encouraging consumers to spend money in this period of the year, when purses are often empty after extra spending for the Christmas period and also because of the ongoing economic crisis.

Spaniards are expected to spend less money in the 2013 sales with an average of 80 euros (about 106 U.S. dollars) per person, 11 percent less in comparison with 2012.

The Business Association of Textile Trade and Complements (ACOTEX) predicted that sales could fall by 4 percent in comparison with the same period of 2011 with total income of between 3,500 and 3,600 billion euros.

In order to avoid overspending and unnecessary purchases in this time of crisis, consumer associations have recommended making a list of needs and limiting purchases strictly to what is necessary.

However, it is also a fact that many have avoided making purchases in recent months in the hope of finding what they wanted now at reduced prices, helping to avoid the effects of price rises caused this autumn by the increase in sales tax from 18 to 21 percent on many goods. (1 euro = 1.32 U.S. dollars)

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