Improvement in High Street sales seen in June
August 23, 2009 by admin
Filed under News, News-Banking
According to recently released figures June saw an improvement in High Street sales levels, partly fuelled by consumers heading out to buy new clothes following the short but significant heat wave seen during that period.
Officials claim that a much needed boost was provided to the High Street over the month, as shopped spilled out onto the streets to buy themselves new clothes for the welcomed, if short lived, hot spell.
There are also other factors that resulted in increased sales. The sale of clothes and shoes increased as many parents shopped for back to school clothes for their kids for after the summer holidays.
Many were also buying items for their up and coming holidays. In addition to this many people have reportedly decided to spend money on improving their homes, which saw sales rise in small domestic appliances, homeware, and DIY products.
One official stated: ‘The big picture is still that the high street has been holding up surprisingly well since the start of this year.’
Another said: ‘Sharply reduced mortgage payments and moderating inflation are boosting many people’s purchasing power.’ He added that consumers are ‘more able and willing to step up their discretionary spending when circumstances are particularly attractive, such as when the weather is hot or when there is increased discounting.’
However, an official from the British Chambers of Commerce said: ‘It is too early to talk about a sustainable recovery. With unemployment set to continue rising, prospects for the economy are still fragile and uncertain. Any modest sign of improvement must be nurtured at this stage. It is much too early to consider withdrawing the policy stimulus.’
Tags: High Street, high street sales, official, consumer spending, addition, shopping, British Chambers of Commerce, homeware
