The High Street’s Christmas Challenge: try to survive
It’s looking like a difficult Christmas for retailers – according to economists from IHS Global Insight, who predict that high street sales will struggle.
The barometer for this, is of course, John Lewis, who are the queen bee of the high street. They reported a 1.8% rise in sales last week, but not all is as it seems. Week on week sales dropped by 1.7%, and retail analysts are not exactly confident about John Lewis’ predictions – take away online sales, and the figures have dropped by 5%. And if JL ain’t doing well, you can bet nobody else will be.
So what does this mean for us? Well, more DISCOUNTS. Because stores that aren’t languishing in the same feted position as John Lewis will obviously need to catch up by grabbing customers any way they can. Howard Archer, from IHS said:
‘John Lewis reported reasonable but unspectacular sales figures, which maintains uncertainty as to just how good a Christmas this will be for retailers. Consequently, a number of retailers may feel under increasing pressure to engage in discounting and promotions over the coming days.’
So we might get some pre-Christmas bargains, but it won’t be plain sailing for the high street.
I blame the bloody bear and the hare.