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Bargain hunting shoppers boost retail sector

Category: Scottish Economy — Gary Cain on June 22, 2013

Recent figures from an official body for the retail sector have shown that shoppers in Scotland are increasingly making visits to stores. The data also shows that shoppers are being attracted by bargains.

The latest footfall figures from the Scottish Retail Consortium (SRC) revealed a three per cent increase on the same data from May last year. It is also the second consecutive month that shops have seen an increase in traffic.

There was evidence to suggest that new financial strategies, such as invoice factoring, were proving more effective here than across the nation as a whole. Nationally, shopper numbers fell by just under one per cent.

Sales growth in the retail sector was better nationally though. UK wide, this rose by 3.4 per cent. Scottish growth was just 0.8 per cent.

Discussing the disparity, the director of the SRC, Fiona Moriarty, said that the skewed figures were likely to be as a result of bargain hunting by canny customers. She said:

“This suggests that whilst Scottish shoppers may be more willing to hit the high streets they remain reluctant to part with their hard-earned cash and are spending more time on the hunt for good deals and seasonal promotions.”

Moriarty went on to say that the increase in traffic in retail centres was as a result of more shoppers, rather than people simply visiting or passing through.

However, the director of the retail trade association did go on to say that it was unfortunate that these increased numbers were not boosting sales by a significant amount.

'Disclaimer: The information contained in these articles is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.

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