A Budget isn't just for Christmas
Christmas is only a few weeks away and we’re well into the golden quarter of festive trading which is so crucial for many retailers.
A fifth of retail spending traditionally takes place during November and December as that is when customers buy gifts for loved ones and stock up with food and drink for entertaining over the holiday. This period is particularly important for non-food retailers as it helps tide them over the leaner months early in the new year when there are fewer transactions which are often dependent on discounting.
That’s why Scotland’s shopkeepers will be hoping for a solid if not cheerier festive season after a couple of fallow years.
There are some encouraging signs. Growth in wages continues to outpace inflation, albeit the gap has narrowed as council tax has rocketed and food inflation has risen.
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Retail sales in Scotland have edged up a smidgeon over the past three months. Our latest consumer sentiment monitor found households intend upping their spend over the next few weeks. Stores will be hoping all of that signals an appetite from consumers for some festive splashing out.
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Toi Staff
Gideon Levy
Tarik Cyril Amar
Sabine Sterk
Stefano Lusa
Mort Laitner
Mark Travers Ph.d
Ellen Ginsberg Simon
Gilles Touboul
John Nosta
Gina Simmons Schneider Ph.d