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News UK Retail Non-Food Sales Down This October

Discussion in 'Retail' started by Cody, Nov 8, 2017.

  1. Cody

    Cody

    Joined:
    Feb 17, 2016
    Messages:
    1,224
    Non-food sales have risen by a meagre 0.2 in October 2017, compared to the 2.4% it gained in October 2016. This means this is the weakest growth ever since BRC began building figures on this since 2012.

    This is surely a huge concern for retailers across the board as it looks like buyers just aren't buying, especially in the run up to Christmas as well!

    In December 2016, it was estimated that mobile phone shopping accounted for over 54% of online sales, up from 39% in 2015, and between 13th November and 24th December 2016, £25 billion was spent online.

    Does this mean the end of retail sales all together as shop-savvy buyers are taking to purchasing, and looking online for cheaper deals?

    BRC chief executive Helen Dickinson says: "consumers appear to have opted for outdoor experiences and excursions during half term, over visits to the shops."

    I can't help but believe that with wage growth down, inflation high, and the GBP weakening due to Brexit is certainly putting a squeeze on consumers budgets and purchasing habits. Retailers are certainly feeling the pressure of the weak pound.

    Helen Dickinson also suggested that Philip Hammond should "deliver a Budget that allays the risks of a further slowdown in consumer spending," for example, perhaps lower the cost of living to increase customer spend?
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