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30th July 2008
Summer sales fail to help independent retailers
Summer sales have done little to help the UK's independent retailers, a new report has shown.
The latest Distributive Trades Survey from the Confederation of British Industry (CBI) indicated that 61 per cent of retailers thought sales in the first half of July were lower than a year ago.
Just 25 per cent said sales were up on 2007.
According to the CBI, these are the weakest survey results since records began in 1983.
Worryingly, the study suggested that the retail slowdown was also beginning to hit wholesalers across the country. In total, 37 per cent more suppliers reported a year-on-year fall in order volumes as opposed to a rise.
In particular, the research found that demand for big-ticket items, such as household goods and furniture, was especially weak.
"It is turning out to be a very grim summer for many retailers," commented Andy Clarke, the chairman of the CBI distributive trades panel.
"The retail sector will have to focus more than ever on providing good value to customers if they want to keep the sun shining this summer."
Recently, Gfk reported that independent electrical retailers had been particularly hit by the current sales slump.
(c) 2008 Adfero Ltd.
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