Retailers Optimistic About Christmas Spending
4 Nov
Everyone knows that Christmas is a very important time in retail especially after a difficult year. This Christmas may be make or break for several retailers who have struggled during the recession. Many are hoping that increased consumer confidence will result in a bigger spend this year than in 2008 when £43.9bn was spent.
Unlike last year retailers are feeling ‘cautiously optimistic’ that this Christmas will bolster their profits. Marks and Spencer have reported better than predicted profits over the last 6 months. They saw improvements in clothing and food sales are are hoping for good sales of historically popular items such as Christmas hampers and other gifts.
“We have had a good start to the third quarter. The market remains competitive and we remain cautious about the outlook for Christmas and the year ahead.” – Executive Chairman Stuart Rose
Online retailers have recently been hit by the Royal Mail strike with 2/3 reporting a 30% fall in revenue despite most offering alternate delivery methods. Two thirds of E-tailers are considering giving up on the Royal Mail for good after the strike has ended. Considering that other delivery companies seem to be more reliable and just as efficient this isn’t a surprise. This could be the beginning of the end for the Royal Mail.
No comments yet