Next sales are looking bright, Source: Gene Hunt
According to official figures, the last quarter in retailing has proven to be difficult with sales gradually sloping downwards. The UK as a whole has been affected but it seems that Scotland has been hit hardest from July to September, with sales decreasing by 0.3%.
However, it’s not all doom and gloom in the retailing sector - the Financial Times announced that High-street retailer Next have reported a positive trading outlook with their sales 3.3% in the third quarter of 2015. The rise in the retailer’s sales are said to have come from a recent boost in their online Next directory of 16.9% in the last quarter. This is a promising sign for other retailers in the market, struggling to boost their sales - it’s been reported that Mothercare are suffering from their worst decline in 8 years.
With Christmas just around the corner, it’s another promising time for retailing. Reports from Kelkoo are predicting that retail sales will grow by 1% this Christmas and it will be primarily down to online sales which will rise by 16%. However, even though we are seeing slight increases in retail sales over the Christmas period, it is still widely known that these rises don’t compare to last year. A majority of retailers will need to work harder than ever to encourage spending this year as a lot of consumers are still frugal with their spending but least some retailers, such as online retailers, can expect moderate growth in sales in relation to the rest of the year.
Leave your thoughts about the retail industry in the comment box? Do you see a gradual rise in retail sales over the next year or will it be another tough year ahead for retailers in the UK?
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November 2, 2023
business