Published on January 10th, 2019 | by The GC Team0
Muted end to a tough year…
The worst December sales performance in ten years signals a challenging start to 2019 for retailers as retail growth stalled for the first time in 28 months.
The British Retail Consortium today said it was a “muted end to a tough year.”
Total sales delivered zero growth, while like-for-like sales fell 0.7%.
“This comes despite some retailers desperately attempting to generate sales through slashed pricing, which has seemingly not been enough to encourage shoppers,” said Paul Martin, UK Head of Retail at KPMG.
“The first months of 2019 will unlikely hold much improvement,” he added.
Andy Soloman, Founder and CEO of Yomdel, said: “Now, more than ever, the retail sector needs to evaluate its consumer offering and how they integrate this with the changing face of the industry in order to create greater appeal while streamlining operations and lowering overheads through the implementation of technology.
“Those that manage to do so will evolve and survive but, unfortunately, 2019 is likely to bring further casualties as even our big high street names continue to struggle.”