John Lewis, Christmas predictions and consumer confidence on the high street.
The Source rounds up some of the key retail stories of the week.
John Lewis saw its sales rise by 2.1% year on year last week, with online sales at johnlewis.com increasing by 9.2%. The biggest percentage increase was in fashion (up 5.9%), while home sales grew 5%. However, electrical and home technology was 4.3% down.
The GfK consumer confidence index dropped by one point to +2 in October. Confidence in the general economy over the last 12 months and upcoming year both fell, as did consumers’ willingness to make a major purchase. However, respondents’ confidence in their personal financial situation increased over the last 12 months.
New research by Mintel has projected that UK retail sales will increase 2.5% year on year in December to £42 billion. The research company also said that in 2014, 11% of Brits purchased Christmas gifts on Black Friday, which it estimates increased November’s sales by £400 million. Out of these sales, 12.5% took place online.
A new look chip and pin gift card will be available from retailers in London’s Oxford Street ahead of Christmas. The cards can be loaded with up to £5,000, but are only available to buy online. The 18-month pilot scheme by the New West End Company will enable shoppers to use the gift cards at any retailer that has regular chip and pin machines, and accepts MasterCard payments, said Retail Week.
