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NEWS STORY
RETAIL SALES FIGURES BODE WELL FOR CHRISTMAS
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| December 17, 2009 |
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Reacting to the official retail sales figures from the Office for National Statistics (ONS) released today (Thursday), the British Retail Consortium (BRC) said retailers are quietly confident of a better Christmas than last year though the official figures confirm total sales values grew more slowly in November than October.
Richard Lim, British Retail Consortium Economist, said: "Growth was weaker than a strong October but that's largely due to the amount spent on food going up more slowly as customers benefit from food prices rising more slowly.
"November's mild weather hit clothing sales. Clothing retailers were denied a clear start to the winter season from conditions turning cold. Things like coats, hats and gloves often went
un-bought. Of course, that will all have changed as temperatures plummeted this week.
"Consumer confidence can't be taken for granted but generally customers are feeling more positive than a year ago. Considering Bank of England interest rate cuts can take up to 18 months to feed through, some of this is certainly the cumulative effects of lower mortgage rates now supporting spending. November saw more interest in items for the home and strong growth in internet sales as Christmas buying took off.
"Worries remain for the New Year - about jobs and taxes in particular - but most retailers are now reasonably sure of a better Christmas than last year's dire performance."
Media Contacts: BRC Press Office 020 7854 8924 Out of hours 07921 605544
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