Retail & Wholesale
As of June 2008, there were 6,610 persons in full-time employment within Jersey's wholesale & retail trades.
Retail and wholesale grew by around 5% during 2007.
Sandpiper C.I. Limited operate a chain of stores in Jersey, their franchises include well-known names, such as Marks & Spencer, Iceland, and Costa Coffee.
A number of online retailers, and fulfillment houses operate from the Channel Islands, including Jersey, supplying a variety of low-value goods such as CDs, DVDs, video games, and gadgets. Residents of the EU were choosing to order goods from Jersey, so as to benefit from a tax relief known as Low-value consignment relief (LVCR). UK residents, in particular, were taking advantage of this situation.
A local company, play.com grew substantially during the time that LVCR applied to Jersey. Notably, Amazon UK also took advantage of this by dispatching some low-value items from Jersey.
In April 2012, the UK Government made law changes to prevent the Channel Islands continued exploitation of LVCR, meaning that UK residents would have to pay the full VAT amount on items imported from the Channel Islands. Some goods are still sold and distributed from Jersey, despite these changes.
Read more about this topic: Economy Of Jersey
Famous quotes containing the words retail and/or wholesale:
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—Dorothy Parker (1893–1967)