The Christmas holiday period did not bring in the business that most Bermuda retailers had hoped for, with the December 18 general election curbing the enthusiasm of some shoppers.

And restaurateurs had an "average" holiday season, as they faced the profit-squeezing effect of higher cooking gas and electricity prices.

This was the general consensus of Chamber of Commerce representatives after the dust settled following a holiday period that is of crucial importance to many local businesses.

Though retail figures for December will not be published until next month, retailers are generally disappointed with the results of the holiday shopping period, said co-chair of the Chamber's Retail Division, Kristie Grayston.

"We've not had a retail meeting at the Chamber since the holidays, but retailers I have spoken to have said it was not the Christmas they had hoped for," Ms Grayston, the owner of gift shop Pulp & Circumstance, said yesterday. "Normally, you have Thanksgiving and then people think about Christmas. Last year, we had Thanksgiving and then it was the election. After the election was over, people suddenly realised Christmas was around the corner.

"We did see a mini-surge of shopping from the Friday after the election, but then there were only four days left, so we knew that whatever happened, it would not be enough for retailers to get anywhere near where they wanted to be.

"I think generally it was a less festive Christmas, there even seemed to be fewer parties, because people were so focused on the election."

Philip Barnett, president of the Chamber and president of the Island Restaurant Group Ltd., said: "Talking to some of my fellow restaurateurs about the holiday season, they have shrugged their shoulders and said 'it wasn't that bad'.

"It was an average holiday season. The biggest pressure on us is that associated costs of our business continue to spiral — for example the price of propane and electricty. Also labour and food costs have been rising and we have not been able to keep up by lifting our prices. That means declining profitabiltity."

The effect of soaring energy costs has bitten particularly hard. Belco Holdings, which provides both electricity and propane gas, is the biggest single supplier to the restaurant trade, Mr. Barnett estimated.

"One of the restaurants in my group goes through seven $140 cylinders of propane every two days," he said.

The general economic climate, with inflation at a 19-year high of 4.8 percent and many investments struggling from the effects of the US sub-prime mortgage crisis, was also having an impact, as people looked to trim their outgoings by cutting down on luxuries.

"When times get a little tough and inflation is rising, then people look to cut down on discretionary spending — like going out for nice meals, for example," Mr. Barnett said. "When people feel they need to keep more money in their pockets, they will get all their food from the grocery stores, who are our real competition."