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Consumer confidence affects retail

By FashionUnited

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UK sales may have risen in February this year over last year, however consumer reluctance has shown price-conscious shoppers are spending less. Stephen Robertson, Director General, British Retail Consortium, said “After a blip at the start of the year as clearance sales temporarily got customers spending, belt tightening began in earnest in February when the Christmas and New Year credit card bills came home to roost. Although a welcome boost was provided by this year's early Mothering Sunday, which helped the beauty sector, customers remained cautious."

“Both retailers and consumers are being squeezed by sharp increases in utility bills and fuel costs." Helen Dickinson, Head of Retail, KPMG, said "The divergence between the best and worst performing retail sectors continues to grow. February's figures are slightly inflated by the timing of Mothering Sunday this year, as spending in the lead up to it is included this month, whereas this occurred in March in 2007. Therefore caution about the outlook remains the order of the day."

KPMG