The British Retail Consortium (BRC) has called on chancellor George Osborne to take swift action to boost consumer confidence and stimulate retail spending.
According to the latest BRC-KPMG Retail Sales Monitor, last month’s UK retail sales values were 1.6 per cent lower than November 2010, while total sales rose by 0.7 per cent – as opposed to a 2.8 per cent climb during the same period last year.
“Consumers are not quite in the Christmas mindset yet, although stores are working to generate much-needed sales with high levels of festive discounting,” said BRC director-general Stephen Robertson. “This close to Christmas, more concrete progress on measures to inspire confidence in consumers and businesses is badly needed.”
KPMG head of retail Helen Dickinson added that the current festive season is likely to prove even more critical for the industry than most Christmases, observing that the Office for Budget Responsibility’s recent economic forecast had added to general uncertainty.
Last month, the BRC issued a cautious welcome to Mr Osborne’s Autumn Statement, but warned that economic weakness made it all the more important for the government to stimulate job creation.
