It was decided to start summer discounts earlier this year in order to stimulate the circulation of funds.
Summer sales season kicks off on Monday July 5th, according to the Ministry of Development and Investment, an announcement is expected during the day. Discounts will last until the end of August, and according to the law, stores may open on the first Sunday, at the beginning of the discount period.
Let us remind that summer discounts, according to the legislation, begin on the second Monday of July, but this year, due to the situation, the Ministry of Development and Investment decides to start them early in order to stimulate the economy.
According to the instructions of trade associations to their members, during discounts, in addition to indicating the old and new reduced prices for goods and services that are sold at a discount, the indication and commercial communication of the discount percentage is also permitted.
If a reduced price is provided for more than 60% of all products sold, a demonstration of the discount rate provided is required (the discount percentage must be indicated on the storefront and in any other commercial message addressed to the consumer).
If there are different discount rates for the product category, you should specify the range of the percentage provided (“from …% to …%).
In any other case, it will be indicated that discounts apply to individual products, with reference to the corresponding percentage.
The method of calculating and predicting the discounted price must be true and accurate. If verified, store owners should be able to prove that the old selling price shown on the sign is correct.