"Retail sales in Scotland fell for the second consecutive month as mounting concerns over the conflict in the Middle East and rising household costs weighed heavily on consumer confidence. New figures released by the Scottish Retail Consortium and KPMG showed total sales dropped by 1.2 per cent in April compared with the same month last year. Once inflation was taken into account, the decline deepened to 2.2 per cent, underlining the growing pressure on Scottish households."
"Food sales suffered the sharpest downturn, plunging by 4 per cent year-on-year as consumers increasingly cut spending and turned to cheaper supermarket own-brand products and loyalty schemes to manage rising living costs. Non-food sales performed slightly better, edging up by 1 per cent, although underlying demand remained weak once online sales were stripped out."
"David Lonsdale, director of the Scottish Retail Consortium, said the downturn reflected both weakening confidence and the growing financial burden facing households. "Concern over the implications of the situation in the Middle East weakened consumer confidence," he said. He added that families were simultaneously being squeezed by higher council tax bills, rising water charges and increasing fuel prices."
"Retail leaders warned that global instability was compounding an already difficult domestic environment for businesses and consumers alike. Linda Ellett, UK head of consumer, retail and leisure at KPMG, described the sales figures as "disappointing". "Consumer confidence has been further dampened by rising prices due"
Total retail sales in Scotland declined 1.2% in April versus the same month last year, and the fall widened to 2.2% after accounting for inflation. Food sales dropped 4% year-on-year as shoppers cut spending and shifted toward cheaper supermarket own-brand products and loyalty schemes. Non-food sales rose 1%, but underlying demand stayed weak when online sales were excluded. Retail leaders linked the downturn to reduced confidence and increased financial pressure from higher council tax, water charges, and fuel prices. Expectations for a spring and summer boost from major sporting events were mixed, with early signs of increased television purchases but subdued travel-related spending.
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]