CONSUMER PRODUCTS AND RETAIL

By force of the economic and commercial system we live in, consumers buy hundreds of consumer products from electrical appliances to furniture, from food to kitchenware and clothes to cleaning supplies. In modern world countries, especially in recent years, this sector has developed in online shopping. The main reason for this is that the need of this sector and increasing customer demand in this direction. Company managers active or preparing to be active in this sector should know that they are subject to legal regulations relevant to health and security conditions which the majority of consumer products sold in retail industry should have these features.

Sector Status in TRNC

In contrast with Turkey and other European countries, although online retail is provided with much higher costs and as is left behind in TRNC where there is an economic transition, retail industry has achieved the most of the growth in other sectors. The main reason why the retail products have higher costs than in other countries is that consumer goods are subject to high duty costs as they are imported abroad. Due to high costs in retail products, many consumers do their shopping abroad or from South Cyprus. For this reason, natural and legal persons active in retail industry should plan import, duty and other tax factors carefully and apply the pricing policy healthy to stand in the competition in market.

How can we help as GRS?

With our experienced sector experts at Saydam & Co., we can help you to act accordingly with ever-changing legal arrangement to protect your consumer rights and to make best use of sectoral difficulties and opportunities on retail food and beverages, tobacco, technology and clothing related to luxury. 

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