By Madhusha Thavapalakumar Despite a near 16% depreciation in the value of the rupee in 2018, seasonal sales have been better than expected, says the Sri Lanka Retailers’ Association (SLRA) Founder Hussein Sadique. Speaking to The Sunday Morning Business, Sadique said: “December sales are satisfactory and more than what we expected. We thought it would be a dull December but it has been better.” According to him, the 2018 December sales performance has been similar to the sales performance recorded last December. “This December’s figures are similar to last year’s figures. Some days the sales are more than last year. Overall, we have done well and it is around last year’s figures,” said Sadique. Earlier this month, during the height of the political crisis, Sadique told The Sunday Morning Business that he is not very optimistic about December sales and expects a drop in comparison to the same period in previous years due to the political uncertainty. “We thought it would be bad, we assumed it would not be a positive month but we are happy that seasonal shopping is happening”, he said. Sadique said that seasonal shopping is being driven, as usual, by brand promotions and offers. “We had brand promotions and all, and people have shopped around. People have come and they have done their usual shopping”. SLRA does not have any statistical data on retail sector performance but is in the process of launching a retail index by early next year. SLRA’s new Chairman Sidarth Kodikara too said that Christmas sales have been good”. Meanwhile, K.A.S. Lasantha, General Manager of Richard Pieris Distributors Ltd., which operates the Arpico Supercentres chain, also said that December sales had been better than expected. “We are in line with our targets. There is no big issue in our sales as we expected,” he said. Lasantha does not see a significance difference between the seasonal sales in December, 2018 and December, 2017. “There is no significant difference or a drop when comparing with last December,” he added. However, Softlogic Holding PLC Marketing Group Director Desiree Karunaratne said that it is too early to comment on Softlogic’s December retail sales as the sales are ongoing for the New Year. “A little early to talk about the numbers but we would have preferred better numbers”, she said. However, Karunaratne was hopeful of recording better numbers, particularly in the electronics sector with the New Year sales which are expected to reach peak levels today and tomorrow. “The sales have been okay in terms of the apparel sector. In terms of electronics, numbers will be coming in the last two-three days. Sales will be happening on 30 and 31 December. Hopefully, with the New Year, things will improve,” she further said. Abans PLC Deputy Director Dinesh Perera too noted that they expected seasonal sales to be better in December. “December sales haven’t been very bad but I should say it was not what we expected,” said Perera. When The Sunday Morning Business contacted other leading retailers they refused to comment.