Last month, high street sales showed an unexpected plunge, which strengthened the apprehensions about the spending of buyers, who already have started reducing their expenses, ahead of the festive season. It was the second successive monthly sales fall, wherein clothing and footwear stores felt the maximum heat.
During August and September, sales volume recorded a 0.2 percent fall against the 0.3 percent increase as predicted by the economists. The previous sales drop was recorded in the months of December and January, informed the Office for National Statistics.
Apparel retailers, including, Debenhams and Sports Direct indicated about the tough conditions that are going to characterize business in the coming days. Experts stated that the retailers can expect good business from traditional seasonal rise in demands and hope that the shoppers will increase purchasing ahead of the VAT rise.
During August and September, clothing, textile, apparel and footwear shops registered a decline in their sales by 0.8 percent, though other chains selling general items recorded an improvement in sales.
Fibre2fashion News Desk-India
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