Retailers are predicting Christmas sales will be at least as good as last year.
A survey for the British Retail Consortium revealed almost two thirds of retailers expected sales to be as good or better than last year, with 36 per cent predicting a fall.
Some 41 per cent of stores also claimed to be offering more promotions and discounts that a year ago, particularly as 71 per cent said shoppers were buying early ahead of the January VAT rise.
“Promotions have hit a new level of intensity, retailers believe the next VAT rise is bringing sales forward and Christmas is usually a time when people spend despite their economic worries but ultimately December could prove to be the ninth month in a row of weak year-on-year growth,” said BRC director general Stephen Robertson.
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