Home / Knowledge / News / Textiles / UK retail sales in December likely to be £44.6 bn: report
UK retail sales in December likely to be £44.6 bn: report
13
Oct '17
United Kingdom retail sales in December are forecast to reach £44.6 billion, according to a recent report. Against a backdrop of rising inflation and weakening consumer confidence, it has been estimated that retail sales is likely to see growth of less than 2 per cent. With Brexit, Christmas 2017 is hopeful to be more expensive compared to previous years.

The financial concern of UK shoppers has grown over the past year, according to the report by Mintel, one of the world's leading market intelligence agencies. Mintel's Consumer Confidence tracker highlighted that in October 2016, 34 per cent shoppers said they felt financially confident. This fell to 31 per cent who said the same in September 2017. Additionally, while in September 2017 28 per cent of consumers said they were worse-off than they were a year ago, this up from 20 per cent who said the same in October 2016.

"The natural response to falling real incomes would be to cut back on spending. Added to the tough comparison against last year’s boom, retail sales would be expected to be lower this Christmas. But, we don’t feel that we can justify such a negative forecast. Retail sales are holding up exceptionally well, even if they are largely financed by increased borrowing. It seems too close to Christmas for there to be a significant fall in spending this year. We also believe that people may well feel that next year will be tough, so they will have a good time now before reality strikes," Richard Perks, director of retail esearch at Mintel, said.

"It is likely that 2016 marked the peak for Black Friday shopping. Black Friday has been a major distorting factor in Christmas demand over the last few years and there are some signs of disillusionment creeping in. Discounting in the run up to Christmas is usually a sign of distress and those who do take part will be retailers who are having trouble selling at full price," Richard concluded. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Textiles | On 20th Apr 2018

Vietnam’s textile & garment exports earn $7.3 bn in Q1

Vietnam earned $7.339 billion from textile and garment exports in the ...

Uganda yet to exploit AGOA benefits: US envoy Malac

Apparel/Garments | On 20th Apr 2018

Uganda yet to exploit AGOA benefits: US envoy Malac

Uganda is yet to take full advantage of the Africa Growth and...

Courtesy: KBR, Inc

Textiles | On 20th Apr 2018

KBR completes KPIC’s ethylene plant revamp project

KBR, Inc. has successfully completed the ethylene plant revamp...

Interviews View All

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search