Chief executive, Hobbs
“I don’t think we’ll see a great upturn in the economy in 2010. A lot of our customers will be hit by the new 50% tax rate and that will affect spend. That said, people have been spending cautiously for such a long time now that I think they will decide it’s OK to start treating themselves again as an end to the recession seems more realistic. I think the election next year will bring some hope to consumers.
The challenge for retailers will be to continue to find new ways to innovate. We’ll still be fighting against a sea of red discounts so we need to offer great quality and a point of difference.”