TRADE NEWS Clothing spending falls early Government agencies 'should be more proactive' CBI asks mayor candidates to support firms Growth is 'main problem for new retailers' No need to be wary online, say experts Minimum wage hike could affect retail employment Retailers should update websites regularly BRC expects victory in Visa investigation UK to spend £8bn over Easter Retail slows in Scotland Easter sales moving online Pet clothing retail growing Niche retailers should sell their benefits to landlords London retail sales up on 2006 Weak high street sees profits drop for French Connection Older consumers well informed about online security Government could bring in carrier bag legislation British take-up of fair-trade highlights importance of ethical retailing Dragons' Den entrepreneur to help launch academy Economic downturn could hit retailers hard Sales continue sluggish performance into February Shoppers opting for green retailers Independent retailers fear bad news budget User-generated content could be the key to online independent retailers Shopping centres urged to rethink consumer perceptions UK shoppers lead the way for online continental spending Consumers reveal interest in ethical trading BRC urge bank to make cuts to help retailers Asda pledge to remove disposable carrier bags CBI calls on Darling to cut tax on retailers New retailers agree Grand Arcade leases Defra unveil new packaging targets ISPs should be more accountable for online counterfeit goods sales Retailers reject government plastic bag claims Counterfeit goods harming retail industry Archive March trade news 2008 February trade news 2008 January trade news 2008   11th March 2008   Economic downturn could hit retailers hard A slowing of the UK economy could have severe effects on the retail industry, new research has revealed. According to a survey by the Society of Turnaround Professionals (STP) and GE Commercial Finance, 63 per cent of STP members, who are called in by firms to help rescue ailing businesses, believe that the retail sector was the least well equipped to deal with worsening market conditions. It is thought that the effect of a slump on the retail sector might be reflected by the plight wholesalers, who could see a severe reduction in their business. Commenting on the figure, Christine Elliott, chief executive of the STP, said: "With the last major slump in the economy having been in the early 1990s, many of today's business managers and owners have not had to deal with the consequences of softening demand and limited credit availability. "Being able to successfully deal with these more adverse conditions will require businesses to focus on their cashflow, costs and markets," she added.   (c) 2008 Adfero Ltd.   Beat the downturn find new products and UK wholesale suppliers here   Subscribe to The Wholesaler UK regular newsletter featuring trade news, suppliers offers and trade show reminders. . .