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Trade News Archive June 08 May 08 April 08 March 08 February 08
January 08
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17th June 2008
Consumers plan to continue to buy clothes
Consumers in the UK are continuing to spend money on clothes and shoes, despite the ongoing impact of the credit crunch.
Research from cahoot found that the current economic situation meant that consumers were increasingly worried about their finances. Despite this, one in four people said they continued to buy clothes, shoes and accessories on a regular basis.
In fact, the study found that these consumers typically spend ten per cent of their monthly budget on these sorts of retail items.
People revealed they are prepared to cut down on socialising and beauty treatments to generate the cash to spend on the high street.
"Despite the credit crunch, it seems the UK fashionistas are finding it hard to cure their 'habit'," Matthew Timms, director at cahoot, commented.
"Keeping on top of your finances and setting aside a specific amount each month for treats is a prudent policy."
Recent figures from the British Retail Consortium (BRC) showed that retail sales picked up in May.
Stephen Robertson, director general of the BRC, explained: "Clothing sales saw year-on-year growth for the first time since last August, while sales of footwear, outdoor leisure and gardening goods also rose."
(c) 2008 Adfero Ltd.
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