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Trade News Archive July 08 June 08 May 08 April 08 March 08 February 08 January 08
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28th July 2008
Independent electric retailers struggle as sales slow
Independent retailers bore the brunt of a recent slowdown in the sales of consumer electronics, a report has stated.
Research by Gfk was seen by the Independent, which reported that the figures showed that sales of consumer electronics slipped by 0.3 per cent for the three months from April to June compared with the previous quarter in 2008.
In particular, the report said that independent retailers had faired the worst, adding that their sales had dropped 16.7 per cent in May and 9.8 per cent in June.
Interestingly, the research suggested that much of this fall was due to weak sales of LCD televisions, hampered by the England football team's failure to qualify for the European Championships.
While sales of LCD TVs increased 11 per cent in June, the report said that price deflation prevented retailers enjoying any value growth.
James Randall, the commercial director at GfK, explained to the paper: "The warm weather had a significant impact on sales of consumer electronics, with consumers switching to buying products for their gardens.
"But, looking at the quarter as a whole gives the clearest indication of what is happening in the market and it's not good news."
Recent figures from the Office for National Statistics showed that retail sales overall dropped 3.9 per cent in June.
(c) 2008 Adfero Ltd.
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