UK fashion retail sales fall in “worst Christmas since 2008”

Reduced discounting deterred shoppers from spending in December 

Reduced discounting deterred shoppers from spending in December
Sales at UK fashion retailers continued to decline in December as canny shoppers and unusually warm weather saw high street stores suffer their worst Christmas since 2008. 
Like-for-like sales at fashion retailers fell 5.4% year-on-year during the four weeks 27 December, compared to a 3.1% decline in the same month a year prior, according to BDO’s monthly High Street Sales Tracker. 
The business advisory firm said fashion chains had the most disappointing performance of all sectors, with all four weeks of the month in negative territory. 
Sales of winter fashion lines were dented, BDO said, while a combination of record-breaking rainfall and reduced discounting also deterred shoppers from venturing out in the weeks leading up to Christmas. 
Overall like-for-like sales (excluding non-store sales) declined 5.3% the worst monthly results since December 2008. 
Non-store sales were up just 7.5% – representing the lowest figure recorded since BDO started tracking the sales medium. 
“Many retailers had held out for a last minute sales Christmas rush that never arrived,” said Sophie Michael, head of retail and wholesale at BDO. 
“People have been much savvier about bargain hunting this year. After Black Friday, many shoppers seem to have sat tight and waited for the sales to start on 25 December.”
However, she added that there are early indications activity has strengthened this month, so retailers will be hoping to claw back some ground in the traditional January sales period. 

 

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Posted on January 9, 2016, in Other. Bookmark the permalink. Leave a comment.

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