According to the Ahram Online website, the Minister of Supply and Internal Trade, Sherif Farouk, issued a ministerial decree on Sunday to start the summer clearance season (Summer Sale or Okazion) for 2024 on 5 August.
According to the decree, shops that want to participate in the sale should obtain prior approval from the internal supply directorate under which their business falls.
It added that participating entities should also announce the price of the products offered for sale along with a statement stating the actual prices at which they were sold a month before the sale.
Farouk said the goal of this sale is to stimulate the internal trade movement and allow citizens to benefit from different discount percentages.
He also directed the officials to ease the procedures for shop owners participating in the sale, emphasizing the necessity of monitoring the quality of the offered goods and abiding by the declared prices and discount percentages.
The summer sale will last one month, with each shop taking two weeks to complete, and discounts will reach up to 70 per cent, the Secretary of the Ready-Made Garments sector at the Cairo Chamber of Commerce, Samah Heikal, stated.
Heikal also noted that shops should put signs on their storefronts to announce their participation in the sale.
In addition, she highlighted the necessity of abiding by the rules and general standards of participating in the sale by putting up prices before and after discounts and sticking to the 14-day refund or exchange policy as per law.
She also affirmed the importance of issuing an electronic receipt to guarantee the consumer’s rights to exchange or be refunded in case of a problem.
Egypt’s inflation reached 33.1 per cent in March and slightly decreased to 32.8 per cent in April, according to the Central Agency for Public Mobilization and Statistics (CAPMAS). The prices of ready-made clothes rose by 4.4 per cent, causing Egypt’s purchasing power to decline.
This became especially evident after the devaluation of the Egyptian pound in March, as $1 now equals EGP 48.38.
