Consumer Spending Drops Despite Pre Christmas Sales

Consumer Spending Drops Despite Pre Christmas Sales

New figures released today by the British Retail Consortium (MRC) have seen the poorest sales performance since May and 1.6 percent lower than the same month last year.

The BRC said that mild weather had hit winter clothing sales whilst shoppers were reluctant to make big purchases.

Director general Stephen Robertson said the figures indicated a “worrying lack of cheer” and claimed that when shoppers were making purchases that they were mainly buying discounted and promotional items.

Retailers will be hope that this December will see more encouraging levels of sales, with families still wanting to treat themselves during the festive. Last year, high street spending was severely disrupted due to severe weather conditions.

If conditions are more clement this year, then most analysts predict better Christmas sales than in 2010.

Food sales figures indicate that more people are choosing to stay in than dine out to eat, as premium readymade meals performed well.

KPMG’s head of retail , Helen Dickinson said: “The latest figures prove once more that the health of UK retailing is deteriorating.
“Christmas is a crucial trading period for the UK retail sector but this year many retailers will be nervous and unsure as to how the season will pan out.”

Ricky Steedman

Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.

His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.

Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.

Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.