the essentials This Thursday, the Federation of Trade Actors in the Territories (FACT) is organizing a meeting at the Cartoucherie in Toulouse with various stakeholders including Thierry Mandon, former minister and Secretary General of the National Commerce Council. Christophe Noël, general delegate of FACT, details a few points ahead of this meeting. Interview.
How is commerce doing in Toulouse: in the city center and on the outskirts?
This may seem surprising but business is doing quite well in the city center of Toulouse. Unlike other cities, there have not been any big drops with covid. If we take vacant premises as an example, we note that in 2021, 7.2% of premises were empty and that in 2023, they fell to 6.6%: which is relatively low compared to other cities in France. On the other hand, unlike other cities, this figure is less good for commercial areas on the outskirts with a boom in vacant premises (7.6%) in 2023 compared to 6.62% in 2021.
We are seeing a lot of closures, particularly of independent businesses. What about this sector?
Several luxury brands have disappeared or will disappear. Why is luxury disappearing from Toulouse?
Let’s not forget that the cost of luxury has increased faster than inflation. And it is mainly foreign customers who keep this sector alive. The market in France remains small for luxury. Even in Paris, luxury remains limited compared to other major cities in the world such as the Arab Emirates for example or New York. A city like Toulouse, attractive and popular, has few luxury consumer customers, hence the disappearance of certain brands. Geopolitical tensions and inflation are also seriously harming this sector.
