Govt. moves to help struggling retailers
A new joint bid to get shop tills ringing up extra sales has been launched.
And Finance Minister Eugene Cox hinted that changes in the tax system could be the ticket to helping the revival.
Mr. Cox said: "Certainly that's something which is ongoing in our reviews as we look at the tax structure.
"All these kinds of things will be discussed as we get into drawing up the next Budget -- these things will be talked about.
"And hopefully in due course we will come up with some solutions.'' Retailers have often complained about pre-paying duty on goods before they were sold -- which they said added to the burden caused by declining tourism and sinking sales.
Mr. Cox was speaking after a meeting between Government and the Chamber of Commerce was held -- what is hoped to be the first regular summits aimed at improving retail sales.
Move to help retailers Ian Smith, of the Chamber's Visitor Retail Division, described the meeting as "fantastic'' and said the Minister had asked to keep meeting on a monthly basis.
Mr. Smith said: "It's not the cap in hand mentality we're after. It's just a case of helping us to help ourselves.
"Mr. Cox is delighted he's got one sounding board to deal with -- and that such an organisation exists.'' The Minister said: "The retail sector has always been very important to the Bermuda economy and we would want to do anything we can to promote that.
"While we all love and promote international business, we have to keep in mind that the retail industry and the tourism industry, which retail feeds off of, is where many of our people are employed and for various levels of skills.'' He added that the summits would be able to supply the Ministry with up-to-date information on retail trends and statistics so Government can make "the best possible decisions''.
Mr. Cox said: "We will be drawing on their expertise and hopefully convey to them that, whatever initiatives we feel we have to make, we'll make them knowing that the stakeholders are fully informed and gain input from them.'' Mr. Smith was reluctant to say what the Chamber would be pressing for during the monthly sessions with Mr. Cox, but hinted that ARV levels, pensions and duty-free shopping would all figure highly.
Mr. Smith added: "It was a very open meeting and he was very understanding.
He realises retail is the biggest employer in the Island outside the Government.'' The Chamber is also linking up with the National Training Board to train retailers across the Island. Mr. Smith explained: "Too many people complain about customer service here. We want to raise standards.
"We should be more like the US. You walk into a shop there and someone will immediately try to sell you something.'' He said retail training experts were coming over from the US to plan the courses which is expected to start next year.
"It will be an all encompassing thing covering everybody from Trimingham to the small Mom and Pop stores,'' Mr. Smith explained.
And he knocked suggestions that Bermudian stores lacked choice and were too pricey.
He said: "A lot of Bermudians don't realise they are getting a great choice here. If you shop in America, you just get the American brands but here we get stuff from the UK, Europe, America and the Far East.
"I looked at Digital Video Discs in America but found they were much cheaper in Queen Street. I think we just need to market Bermuda shopping a lot more.
We offer a lot more than other islands.
"It's our responsibility to get that message across. We'd also like to talk to other Ministers so we can plan how to move retail.'' The Visitor Retail Division is now planning market research to find out what tourists want from Bermudian shops.