Following on from the news earlier this week that shoppers were holding back on their spending in November as Christmas and Black Friday approach, the Scottish Retail Consortium (SRC) has warned the state of retail in the nation could well be under threat.
New figures released this week from analysts NIQ showed total till sales at UK supermarkets rose to 3.2% in the four weeks to 1 November - a marked slowdown from the +4.1% growth recorded in September.
Additional data released this week from researchers KPMG showed only slightly better figures for Scotland specifically, with total sales there up 1.9% year-on-year, with food sales up 2.7%.
In response, head of the SRC, David Lonsdale (left) said: “With Christmas just around the corner, we ought to be seeing a more confident mood among Scottish retailers.
“However, twin threats are to the fore. Firstly, consumer confidence remains shaky and won’t be helped by mooted increases in personal taxation which would lessen the amount people have available to spend in shops.
”There is an absence of any plan here in Scotland…”
“The second threat is the risk of inaction on business rates. Wales and England are cutting business rates for shops permanently from April but there is an absence of any plan here in Scotland.
“Without a rates reduction for all retailers here, there could well be direct consequences for commercial investment and the state of our high streets, as destinations elsewhere in Britain become considerably more attractive and cost-effective locations to invest in.”
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