Payments in dollars, the US currency, have declined alarmingly during the first months of 2025, according to the retail sector in Venezuela.

The sector has pointed out that “the use of US dollars as a payment method in retail stores has fallen by up to 60 %,” according to data from the National Federation of Commerce (Fedecomercio).

This is an alarming trend, reflecting a significant decline in the preference for the dollar for daily transactions, according to José Lossada, president of the association.

Lossada emphasized that in the first four months of the year, “the majority of transactions, approximately 75 %,” were made in bolivars.

This change in Venezuelan payment methods reflects the difficulties people face in obtaining foreign currency from public and private institutions, “in addition to the high costs associated with its acquisition. This sustained trend affects the stability of operations and the financial planning of businesses seeking to adapt to the new market reality.”

M.Pino

Source: elperiodiquito

(Reference image source: Alexander Grey on Unsplash)

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The shortage of skilled workers is also causing increasing problems in retail trade in Germany, which lacked more than 37,000 employees between July 2021 and July 2022, according to a study by the Institute for German Economics (IW) published today.

“This represents an all-time high in the deficit of qualified labor in the retail sector,” reported experts from the center for the promotion of qualified work of the IW, an entity close to the German employers’ association.

The study indicates that almost a third of the vacant positions in the retail sector cannot be filled with skilled workers, and that the greatest difficulties were observed in the optometry and meat sales sectors.

One reason for this is that far fewer people have been trained in the retail industry in the last ten years. The number of unfilled training positions has exceeded the number of applicants throughout the country since 2021.

“This tipping point jeopardizes the security of skilled labor in the retail sector in the long term and suggests that skilled labor shortages in retail occupations will continue to worsen in the future,” the study authors predicted.

Source: dpa

(Photo: freightwaves.com, via website)

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