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Trade News Archive August 08 July 08 June 08 May 08 April 08 March 08 February 08 January 08
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5th August 2008
Staycations could help British retailers
The rise of the so-called 'staycation' could be good news for domestic retailers.
As the financial implications of the credit crunch begin to take hold, more and more British consumers are opting to forgo expensive foreign holidays in favour of domestic breaks, research has suggested.
In fact, the latest data from LV= showed that 71 per cent of parents are concerned about their personal financial situation and that 58 per cent are opting to stay in the UK for their holidays this year as a result.
One camping site owner from Wales explained to the BBC that bookings were soaring this year. Dave Beynon, of Three Cliffs Bay Holiday Park on the Gower, explained that domestic holidays could "buck the trend because [they're] inexpensive".
The switch to domestic holidays could potentially provide welcome relief to beleaguered retailers in popular domestic vacation spots.
Earlier this year, the British Retail Consortium (BRC) reported that retail sales surged in May thanks to sunny weather and short breaks.
"As the sun came out so did shoppers, boosting sales of summer food and drink and particularly clothing which had been struggling," BRC director general Stephen Robertson explained.
(c) 2008 Adfero Ltd.
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