Bulletin

Retailers voice concern over accent on leisure spending

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Official sales figures published this week show that Britons went on a shopping spree in February as prices fell by the most on record. But senior retailers and analysts warn that while falling food and fuel prices mean shoppers have more in their pockets, it's not being spent evenly across retail and leisure outlets. Clive Black of Shore Capital commented: 'Although the consumer has more money, they are spending it very judiciously. And where they are increasing their spending, it is more on services than on goods.' Sales volumes rose particularly strongly in household goods stores, according to official figures. But while volumes in food stores rose 1.2% in February, the volume and value of food sales has been flat during the past three months, suggesting consumers are not spending their extra money in supermarkets.

 

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