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21 February 2008
Retailers retain confidence in the industry
The vast majority of retailers are confident in the immediate future of the sector, new research has revealed.
According to a study by Hartnell Taylor Cook LLP, some 77 per cent of UK retailers are confident about the prospects of the market in 2008.
The data also revealed that the primary concern for retailers was the credit crunch, which was a worry for 65 per cent of retailers, with 42 per cent concerned with the amount of additional retail space coming onto the market.
Andrew Bradley, a retail agency partner at Hartnell Taylor Cook, revealed his worries that the market could dip if the credit crunch worsens.
"It comes as little surprise that the well-documented credit squeeze is the number one concern for UK retailers," he said. "Although the full impact has yet to become clear, it could put a lot of extra pressure on some businesses."
However, with retailers confident for the overall prospects over the coming year, sales may grow during 2008, with wholesalers benefited from increased stock purchase.
The research also revealed that 59 per cent of retailers were concerned by the growth of online retailers.
(c) 2008 Adfero Ltd.
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