Britain's retailers are banking on consumers rushing to the shops in the last few weeks before Christmas after suffering a second successive month of disappointing business.(Store Fixture)
The latest snapshot of high-street activity from the Confederation of British Industry shows the volume of sales well down on expected levels in November despite increases in staff to cope with a hoped-for surge in spending.(Clothing Display)
Mirroring other recent surveys of the retail sector, the monthly distributive trades survey(Sock Display) suggests that the rising cost of living and news of big increases in energy bills are making consumers more cautious.
Barry Williams, Asda chief merchandising officer for food(Food Display), and chairman of the CBI distributive trades survey panel, said: "This is the second month in a row that retailers' expectations for growth have been disappointed, perhaps due in part to the mild start to autumn.
"But despite challenging conditions on the high street, retailers remain optimistic for the Christmas period(Food Display), and have taken on more employees in anticipation of a shopping rush that should add jingle to the tills."
The CBI data shows that 35% of retailers questioned said sales were higher in November than a year earlier while 34% said they were lower. The balance of +1 percentage point was much lower than the +23 points expected.
Department stores(Store Fixture), grocers and clothing stores are finding trading conditions particularly tough, but the recovery in the housing market is helping sales of households goods and DIY equipment.
Employment increased in retailing over the past three months and is set to rise again in the run-up to Christmas, the CBI says