Facebook - Shropshire Business Twitter - Shropshire Business LinkedIn - Shropshire Business
http://www.lblaw.co.uk/corporate-legal-services/employment-law/employers-liability-insurance/ http://www.henshalls.com

Figures reveal slowdown in retail spending

Latest figures showing a slowdown in retail spending should not be overstated, according to a Shropshire banking official.

September’s retail sales saw a monthly decline of 0.8%, reversing August's growth, according to the Office for National Statistics.

John Pitchford (pictured), head of corporate banking for Barclays in Shropshire, said: “It’s important to avoid overstating the negatives in September’s retail sales, as retailers did manage to post year-on-year growth despite the range of headwinds they are battling currently.

“However, sales were down compared to a month earlier, with the expected dip following August’s strong result worse than predicted. Footfall struggled, in part due to a wetter than usual September, with continued double digit increases in online sales coming to the rescue.

“Retailers are now faced with something of a dilemma as they enter the most important part of the year.

“Due to intense cost pressures, prices are rising at the highest rate for more than five years, but at the same time we are witnessing a continuing squeeze on real incomes.

“As demand softens in much of the industry, retailers will have to make difficult decisions about the extent to which they are able to discount in the run up to Christmas to encourage consumers to part with their cash.

“The disconnect between rising costs and falling disposable income is likely to set the tone for the sector for the foreseeable future. UK retailers are a resilient bunch and will find ways to adapt to these challenging circumstances, but they also need support to allow them to thrive.

“All eyes will now be looking forward to next month’s Autumn Statement to see what help the government is able to provide, with a review of the scheduled hike in Business Rates top of the industry’s wishlist.”

 

http://http://www.njwealthplanning.co.uk/

Christmas retail trends

Barclays survey reveals signs of confidence

23rd November 2017

New cashback scheme is launched for SMEs

It's the largest project of its kind to launch in the UK

30th January 2020

Care operator diversifying after investment

CLCA creates overseas call centre

7th November 2017

Pen tribute to county silversmiths

Write Here boss behind launch of silver set

12th January 2018

Visitors to Shrewsbury rise by 65%

Lockdown easing boosts town centre footfall

25th June 2020

Changing young people's perception of manufacturing

Solutions proposed at national conference, held in Shropshire

24th January 2019

Community shop up for sale

Lyth Hill Stores now on market

29th January 2018

Concern for Wyle Cop traders

Business owners counting cost of roadworks and rates

14th November 2017

Property renovator opens new showroom

John Poole launches shop in Albrighton

27th October 2017

Wyle Cop traders coming together at weekend

Call to support independents on Small Business Saturday

28th November 2017

Credit union joins Barclays scheme

Application is a success

30th July 2018

New HQ secures jobs for thriving retailer

e-commerce to drive expansion for Charlies Stores

19th October 2018

Shrewsbury retailer seeing benefits of move

Pretty Box Pink enjoying new location

30th November 2017

Gift shop teams up with National Trust

Norton florist to host wreath workshop

25th October 2017

Is there fresh hope for Shropshire's House of Fraser stores?

Takeover could be reprieve for Telford and Shrewsbury

10th August 2018