Poor shopper figures in November point the way to a ‘back-to-basics Christmas’British November same-store retail sales values fell 2.6% compared to the same month last year
Its hard to know what's going on in the world. Even harder when this is being reported by BBC radio 5 live as "the fear of a Christmas slowdown hasn't materialised as figures released by the BRC show shoppers are spending in the stores"
Yet the November figures show that this is the first time sales have declined in two consecutive months since the survey began in January 1995.
If we just look at how the google headlines are coming out;
BRC figures indicate retailing under pressure:MarketWatch
Economic slowdown: A bleak Christmas:Edinburgh Journal
Britain's high streets face their bleakest year for four decades: The Times
Consumers tightened their belts even further in November:FT
High street sales have seen an unprecedented fall despite heavy discounting :Telegraph
British retail sales fell at their sharpest annual pace in more than three years :Guardian
and even BBC business news has
Retail sales 'fall still further'
5 live have been desperately trying to sound upbeat after a few "Spinners" erm I mean "listeners" complained that it was too gloomy. Every broadcast on the economic front has to have a sunny upside.Even if there isn't one.
They should just stick to the sport...
Sales down by 2.6% compared to November last year. Doesn't sound so bad but this figure included on line sales up 10% and strong sales of food and drink.
ReplyDeleteAny big ticket or housing related items were really struggling.
Are sales of food up, or is it inflation in food?
ReplyDeleteBoth. Food prices went up after the big rises in food costs that have now largely come down, but food prices fell at a slower rate than they went up.
ReplyDeleteThe increased price of same food has also increased the retail numbers for like for like sales so increasing the turnover but not necessarily the profits.
JKA The figures are not as bad as expected is the way the BBC are running them.
Does not mean, as you point out, that they are good.
November 2007 figs were poor. December 2007 were better from Boxing day only. January 08 were good.
Currently retailers would do well to level on last years sales figures.
Expect a late surge and lots of post Xmas activity that dies away from 2nd week of January and may be absent for a long while.
This is retail sales and not retailers profits. Sales are down, and we have massive discounting, that must mean that like for like retail incomes are way down.
ReplyDeleteWas at Cheshire Oaks yesterday and it was empty, and I have never seen the place like that, even at closing time on a cold and wet Sunday.
The way goods are offered for sale hasn't changed for decades. Everything out on show, all sizes, near enough serve yourself by going through the goods. Very noisy stores, no assistants just people on the tills.
ReplyDeleteI realise you are discussing economic factors, but there needs to be a rethink on how things are sold, including food, at least in London, I don't know about the rest of England.
The BBC agenda is to save Prudence and so it is that the recession is over thanks to Gordon's superb management of our economy. Biased BBC has it covered!
ReplyDeleteGiven the proliferation of common purpose graduates at the beeb, that you would expect anything other than manipulated BS amazes me.
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