"We had been led to expect sales figures up to 40% higher than a typical summer, due to a massive influx of tourists." Francis Palombi, president of the Confederation of French Retailers, recalled those optimistic projections concerning the Olympic Games' economic benefits. Now, he's a bit disappointed. "For many businesses, particularly in Paris, we're seeing a 10% to 30% drop compared with the previous year," according to this representative of small independent businesses. All the more so as during the preparatory phases, "some stores had barriers put up in front of their windows, others had to close. Moreover, not all of them will necessarily recoup lost revenue."
According to the Retail Int. panel for Alliance du Commerce, clothing store sales in Paris fell by 13% during the first week of the Olympics and by 11% in the rest of the country. Meanwhile, the Procos specialized trade promotion federation reported a 2.5% average drop in store sales in July.
For instance, between July 18 and 26, the flagship Pylones store, known for its decorative gifts and located in the Carrousel du Louvre, experienced a 100-fold drop in revenue. "On July 19, with six salespeople, we made just €10 all day! Getting a QR code for visitors was too difficult," said Jacques Guillemet, president and founder of this chain, whose Paris stores experienced a 5% decline in revenue between July 27 and August 6, once the events began.
"We were expecting huge crowds and tourists everywhere. In reality, it feels like a typical August," said Patrick Bellaiche, who has run a shoe store in Paris's 12th arrondissement for the past 22 years. "The people who come are supporters, not shoppers." He calls them "ice cream eaters," because "they're going to visit the Eiffel Tower and eat ice cream." According to Circana, sales of individual ice creams jumped 68% between July 29 and August 4 in supermarkets.
By contrast, it was chaos on Wednesday, August 7, beneath the canopy at the Forum des Halles, outside the official Paris 2024 boutique. "It's like this every day," said the security guard managing the entries. Chang and James (the tourists we interviewed didn't want to give their names) a "Chinese couple living in Luxembourg" in their 30s, were among the hundred or so people queuing up to buy T-shirts, bags or mascots bearing the Games' effigy. They wanted to "bring back souvenirs for friends who couldn't make it" from their nine days in Paris, they explained. What about shopping? "We don't have time with all the competitions. Yesterday, it took us five hours to see the events, with the RER, the métro and walking. Afterward, we were tired," said Chang, who is due to give birth in September.
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