The autumn season is well underway and with the countdown to Halloween and then Christmas retailers are planning and hoping for a bumper quarter.
Retail sales for September are showing signs of slowing down compared to the same period in 2016. The suggestion is the impact of rising inflation and sluggish wage growth dented consumer spending power kept sales down.
Official figures showed a drop of 0.8% in September from the previous month, setting the UK on course for a period of slow growth in the run-up to Christmas.
Also, sales volumes for the previous 3 months were up just 1.5%
A senior statistician at the Office for National Statistics, Kate Davies, said looking back over the past year the underlying trend was for steadily rising sales after “a weak start to the year and a background of generally rising prices. These increased costs are reflected in the more rapid growth in the amount spent when compared with the quantity bought.”
With Christmas around the corner, already retailers are sending out pre-pre-Christmas deals in an effort to catch the early shoppers.
With Brexit cloud hanging low over the UK, higher inflation and the ever-present online discounters, Britain’s High street retailers will be looking for favorably weather and plenty of Christmas cheer these final few months of 2017.