Savvy shoppers give retailers a welcome boost despite World Cup
9 July 2014 2:34am
Shoppers have boosted June like-for-like sales at high-street retailers by one per cent compared to the same period a year ago, new research out today shows.
The increase is particularly significant given the World Cup, which traditionally draws shoppers, and their cash, away from the high-street.
Sophie Bevan, head of retail and wholesale at BDO, the group that conducted the research, said: “Retailers throughout the recession have learned to be much savvier businesses. They can react to trends much faster, which gives them the confidence to hold new lines at full price and reduce the volume of discounted stock.
“The reward for getting the product and service right is increasing sales and improving margins, both of which are contributing to the growing sense of confidence across the high street.”
Sales of homewares saw a particular bump, up 2.8 per cent year-on-year, with lifestyle goods up 1.8 per cent, helped along by strong sales of electrical goods. Fashion retailers saw a less impressive 0.5 per cent boost according to the research.
Discounting remained relatively widespread across the retailers, BDO said, adding that sales have become more targeted with items remaining at full-price for longer.
The effect of a possible rise in interest rates was not as harsh as had been expected, with consumers continuing to shop despite their concerns.
In other news
Former Thomas Cook boss Harriet Green has said she'll donate a third of her forthcoming share award to a charity [Read more]
Update: Firefighters have put out a blaze at a Berkeley Homes building site on Arsenal Way, Woolwich this afternoon. [Read more]
Greece's creditors have poured cold water on the cash-strapped country's claim that the parties were nearing a [Read more]
The EU and Switzerland have signed a deal to stop EU residents holding undeclared income in Swiss bank accounts. [Read more]
A random combination of words and characters are automatically shutting down iPhone users' devices. [Read more]
London will play host to a record number of cyclists in August as the Prudential Ride London Freecycle event expands [Read more]
Commuters using London's Fenchurch Street could face a travel headache going home tonight, with operators confirming [Read more]
Eight candidates are vying for the role of deputy Labour leader in a crowded race alongside the high-profile leadership [Read more]
Between 1997 and 2013, people living in just four regions in the UK saw their disposable income increase when [Read more]
Prime Minister David Cameron has had work done. Five years in Coalition has taken its toll on the youthful fresh-face [Read more]
Swiss police are questioning 10 Fifa officials over the controversial award of the 2018 and 2022 World Cups to [Read more]
Dutch banking giant ING last night cut its stake in NN, an insurance and investment management company.
Update: Nearly 150 flights have been cancelled and 32 diverted to other European cities after a power outage shut [Read more]
A fresh investigation into migrant worker conditions in Qatar landed BBC reporters in prison recently. It is another [Read more]
The Bank of England will not back down on tough regulation, top official and ex-Barclays boss Martin Taylor said [Read more]
Perhaps the most enjoyable outcome of the General Election is the abuse now being heaped on the metropolitan liberal [Read more]
Private company SpaceX has received certified approval from the US to send military and spy satellites into space. [Read more]
Essex commuters will be the first to benefit from London’s Crossrail train service, with fare cuts of up to [Read more]
Boohoo’s finance chief Neil Catto was yesterday granted 1.6m share options worth £400,000 after his previous [Read more]
The FCA is considering whether to introduce new rules around PPI complaints following last year's ruling on the [Read more]