High street shift on the way, says CBI - ToyNews

High street shift on the way, says CBI

CBI predicts six per cent increase in high street sales in June, but conditions likely to remain tough.
Author:
Publish date:
5_Pocoyo.jpg

Retailers have increased prices by the fastest rate since 1992, while consumer activity on the high street has fallen for a second consecutive month, according to CBI’s latest Distributive Trades Survey.

More than 40 per cent of retailers surveyed said their year-on-year sales volume had fallen, while some 30 per cent had experienced an increase.

The prices of goods in the year to May increased at their fastest rate in 16 years, as many retailers passed on the rising costs of energy, food and raw materials.

Ian McCafferty (pictured), chief economic adviser, said: "The high street has faced another testing month as consumer spending power has been hit by the rising cost of fuel and food, as well as any credit crunch worries.

"It is encouraging that retailers can see some recovery in sales next month, but they are not optimistic about the business outlook, and retail conditions are likely to remain tough,”

Related

0 high street shot.jpg

Health check: The health of the High Street

2017 is certainly a time of change for the UK High Streets, from Brexit to business rates and the strength of the pound to snap General Elections. Independent Retail Champion, Clare Bailey, founder of the Support for Independent Retail Campaign and the Future High Street Summit, shares her thoughts.

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.