BusinessCompany NewsGrant Thornton: Retailing figures not ‘doom and gloom’

Grant Thornton: Retailing figures not 'doom and gloom'

Firm urges perspective on release of retail statistics

Retailers have been urged to ‘keep a sense of perspective’ following the
release of Office of National
Statistics
retail figures which showed the largest fall in sales volumes
from December to January since 2003.

David Bush, head of Grant
Thornton’s
retail services team, said the firm urged retailers to keep a
sense of perspective and not to start predicting gloom and doom just yet.

‘January is traditionally the quietest month for sales and this year’s
results are still a healthy 3.3% higher than this time last year,’ he said.

‘Retailers’ determination to hold off from promotional activity until after
Christmas saw a flurry of sales commence in the last week of December.
Generally, sales driven by promotional activity peaked immediately after
Christmas and tailed away quickly in January. This largely caused the marked
difference in volumes between December and January’s sales,’ he added.

Further reading:

Deloitte predicts £17bn Xmas spending frenzy

Rates rise won’t affect consumer spending

IFRS opens up to retailers

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