UK retailers saw sales rise 1.5 per cent during February on a like-for-like basis with the year before, and 3.3 per cent compared to the same time in 2006, according to the latest figures from the BRC-KPMG retail sales monitor.The low levels of growth are being caused falling consumer confidence, according to the report, which states has fallen to an all time low. It says that customers are extremely price conscious and are reluctant to splash out on major purchases.
"After a blip at the start of the year as clearance sales temporarily got consumers spending, belt tightening began in earnest in Feburary when the Christmas and New Year's credit card bills came home to roost," said Stephen Robertson, director general of the British Retail Consortium.
"Both retailers and consumers are being squeezed by sharp increases in utility bills."
Advertisement
Related Stories
- Daily deals websites get the Apprentice treatment May 23rd 2012 at 9:58PM
- iPad boosts April online sales to strongest in 18 months May 22nd 2012 at 10:53AM
- Dixons reports growth in UK sales in latest statement May 10th 2012 at 9:14PM
- TP-Link partners with Asda May 9th 2012 at 2:46PM
- Are you selling the Connected Home? May 2nd 2012 at 12:53PM
- Clare Rayner: Climb the 10 Steps to Retail Success May 2nd 2012 at 11:43AM
- Tesco sees UK profits fall Apr 18th 2012 at 10:51AM
- Serif agrees Asda deal Apr 17th 2012 at 2:27PM
- NCsoft gives headstart to gamers who pre-purchase Guild Wars 2 Apr 12th 2012 at 9:34AM
- Have you signed up for the PCR Retail Boot Camp? These dealers have... Apr 12th 2012 at 9:06AM
