Furniture market takes hit from global crisis
The global financial crisis has considerably
affected Azerbaijan`s furniture market, with sellers saying the
purchasing power of customers has fallen 50% in the past two months
alone.
Prices for furniture in the domestic market have decreased by 15-20%. The demand remains low, despite various gift campaigns being offered by vendors along with discounts.
Entrepreneurs say the trend began to discern after local banks considerably scaled down the amount of loan allocations. Moreover, most buyers are in no rush to buy furniture as they expect further reductions in prices next year.
It is of note that the fall in prices has affected only domestically produced furniture, with no changes reported on prices for imported furniture.
Prices for furniture in the domestic market have decreased by 15-20%. The demand remains low, despite various gift campaigns being offered by vendors along with discounts.
Entrepreneurs say the trend began to discern after local banks considerably scaled down the amount of loan allocations. Moreover, most buyers are in no rush to buy furniture as they expect further reductions in prices next year.
It is of note that the fall in prices has affected only domestically produced furniture, with no changes reported on prices for imported furniture.
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