These are
certainly two sayings that could well be used to paraphrase the Festive
shopping period in Waterford City. Some, quite wrongly assumed, that as there
appeared to have been large numbers of people visiting Waterford in December,
taking in the wonders of Winterval, exploring the architecture of Ireland’s
oldest city, visiting our retailers, that businesses have, figuratively
speaking, made a “killing!”
This of
course could not be further from the truth.
Many
businesses have done well over the festive period, with the hotels, restaurants
and entertainment establishments being particularly buoyant. There can be no
doubt, that general retail had at best flat sales when compared to 2016 and
some sales were even slightly down on last year. Many will ask just how this
could be, when guesstimated numbers for Winterval could be in excess of half a
million, going on the 2015 figures (we are still awaiting the official bean
counter announcement)!
All the
data released so far, will back up the fact that Christmas sales were, for many
retailers, very disappointing. As these could account for up to 30% of a businesses’
annual turnover, the real cost of a poor Christmas, in terms of sales, hits home
during the months of January, February and early March.
There are
many contributing factors to these poor sales and there can be no doubt that countless
shoppers, are simply holding on to more of their hard earned cash due to
continued uncertainty in the economy. In addition, Waterford and across the
wider southeast, we continue to be a low wage economy with higher unemployment,
when compared to national averages. This in turn means that we have less
disposable income to spend in our local shops. After all, if you only have €50
of disposable income in Waterford, compared to €150 in another city, then who
will have a stronger, better economy – it really is that simple. WE have far
less to go around.
For years
we have suffered, as regional strategy, after regional strategy, has left Waterford
City and the southeast’s economy trying to play catch-up. We have been running the 100m, against the
likes of Mr Bolt. But we have been wearing wellies that are two sizes too big,
filled with custard and our lane has been coated in treacle! It is proving
impossible to get on even terms, let alone be in with a chance of winning the
race.
To throw
even more fuel on the fire, we have very low third level attainment and we are
the only region not to have a University. This in turn means that we have
limited higher education capacity for our children. The lack of IDA visits is a
constant thorn in our side and for the period 2011-2015 the southeast accounted
for only 4% of new IDA jobs created. There are many other metrics that clearly
show we have much to do to get back on an even keel. But then you the readers
already know this! Don’t you?
But here is
the crux of the issue. Getting people to talk openly and honestly about where
our economy is, proves very, very difficult, time and time again. There are
very few people willing to speak up, because they somehow fear that speaking
the truth, will sound negative! Yet, our very own excellent academics, in WIT,
have been saying the above for many years. So why can’t we be more honest and
say it like it is?
If our
businesses do not start speaking loudly enough to be heard, then many of those
in power (locally and nationally) will, wrongly assume, that Waterford’s
economy is “booming”. Come the Council budget next year, scores of our
Councillors will vote for commercial rates increases. Maybe increased car
parking charges, increased property taxes and who knows what else.
We need to
stop being the “Quiet people of Waterford” and start to shout just a wee bit
louder. In the meantime get out and support your local businesses – because
once they are gone they are gone!
No comments:
Post a Comment