WITH just a day to Christmas, Tobago businessmen have observed that shoppers are very cautious about their spending.
But they are still urging them to shop local and support the island’s economy “while preparing to weather the economic challenges until brighter days arrive.”
Tobago Chamber of Industry and Commerce president Curtis Williams said several of the organisation’s members are reporting slow sales.
“The business community is sounding the alarm over slow sales and cautious consumer spending,” he told Newsday.
“The usual hustle and bustle has been replaced by a more subdued atmosphere with many residents opting to focus on the bare essentials rather than indulging in festive splurges.”
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One Chamber member shared, “The sales have been sluggish and people are just prioritising necessities.”
He added this sentiment is reflected across the island.
Williams said this restrained spending is causing concern among retailers and service providers, who typically depend on the holiday period to boost their annual revenues.
He believes economic uncertainties, including a “persistent shortage” of foreign exchange have added to the challenges.
“Furthermore, strained relationships between the Tobago House of Assembly and the Central Government have not helped to stimulate the local economy, leaving many businesses grappling with limited opportunities.”
Despite the slowdown in sales, Williams said the chamber is focusing on 2025, which it sees as a pivotal year with the general election and Tobago House of Assembly election both due to take place.
“Many are hoping that new or renewed leadership will address longstanding issues and drive policies to revitalise Tobago’s economy.”
Another Chamber representative said, “We remain optimistic about the future. With the right leadership and strategic initiatives 2025 could be the turning point Tobago businesses need.”
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In the meantime, the island’s small businessmen are trying to stay positive.
A clothing vendor, who has been in business in Scarborough for several years, told Newsday Christmas has never been this bleak.
“Things was not so good either last year but it was not like this. Some days I just selling one or two things. Look I have all my stuff on my hand. But I eh giving up. It still have Christmas eve to come and that day plenty people like to come out and shop last minute,” she said.
Another seller observed that people are looking for bargains for both children and adults.
“The reality is that some people do not have the kind of money they once had to spend even on luxury items. So they are looking for things that are more within their reach financially,” he said.
With the high cost of bringing in clothes and other items into the country, he said it is difficult for vendors to go “overboard” on bargains.
“You don’t want to be operating at a loss.”
The vendor said he has made up his mind to “eat little and live long.
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“I am just hoping that there is a turnaround in 2025.”
Newsday observed that cologne, perfumes, jewellery sets are still among the popular gift options for loved ones and friends.
