UK retail sales, December 2016 - PwC Comments
Published at 09:56 AM on 15 December 2016
Reacting to the latest retail sales figures, Craig Skelton retail & consumer partner at PwC said:
“The latest retail sales figures show yet another month of strong consumer spending, boosted by Black Friday and Cyber Monday sales in the run up to Christmas. This Black Friday weekend was the biggest sales event seen to date, with many retailers opting to adjust their strategies by extending the length of their sales and fulfilling customer demand for online shopping as opposed to the high street.
“PwC is forecasting an average Christmas spending of £280 per shopper, with over 65% of consumers saying their spending over the festive period will not be impacted by the outcome of the EU referendum.
“Next year, retailers will no doubt feel some pressure from exchange rates on their underlying costs, the increase in living wage and impact of business rates. The question is, how much of this will be passed on to the customer, and will the customer pay? Brand loyalty will be key.”
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