The recent release of the retail economy report by Ireland’s Central Statistics Office (CSO) for the year 2020 provides a rich array of data shedding light on the retail sector’s performance.This piece aims to highlight key findings of the report, including what this means for the jewellery sector.Breakdown of Business CostsThe Retail Trade sector purchased €28.8 billion worth of goods and services in 2020. Purchases of Goods for resale accounted for the largest business cost at €24.6 billion or 72.5% of total costs, followed by Labour costs (Wages & salaries and Social security costs) at 14.6%.Analysis of Business Costs: Implications…
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