Most retailers expect sales to fall in 2011, with weak consumer confidence and inflationary pressures hitting the sector’s performance, according to the Brtish Retail Consortium.
Nearly two thirds of those participating in the BRC’s Retail Prospects for 2011 survey said they expected sales to fall in 2011 compared to 2010. Only 18% of respondents expected sales to grow. The survey did not split out results by category.
Despite the tough prognosis for next year, BRC director general Stephen Robertson said he thought December will turn out to have been better than some expected, despite the impact of the severe weather.
He said that many shoppers had simply moved their purchases to different days adding that “the overall impact will turn out to be less severe than some fear.”
Some 47% of the retailers surveyed expect to create new jobs in 2011, compared to 24% who think they’ll employ fewer people.
Asked what action they would like to see from government to help business in 2011, the top three answers were reducing existing regulations, avoiding new regulations and talking about growth instead of cuts.