November Sales Suggest Strong Christmas Period, Says Retail Ireland
Positive November sales figures suggest a strong Christmas period for retail, according to Retail Ireland.
The total value of retail sales (excluding sales of cars and sales in bars) was up 4.8% on the previous November, with volume of sales rising by 9.2% over the same period.
Retail Ireland had predicted a 3.5% increase in sales on Christmas 2014, and they are encouraged by news that all of the core retail categories recorded growth in the year ending November 2015.
“The strong growth in retail sales in November is encouraging and it appears that fears of a slump ahead of the key Christmas and New Year sales period were unfounded,” said Retail Ireland Director Thomas Burke.
Growth in many categories was relatively low. Clothing, food, books, and newspapers and stationery posted low single digit growth. Electrical stores, as well as furniture and lighting stores, recorded more substantial growth, though these categories were operating from a lower base. Fuel continued to struggle due to global commodity prices.
Confirmation of the sector’s performance will be revealed later in January. Until then, Burke says, the overall performance of the sector in 2015 cannot be accurately determined. “December is the single most important trading month for the sector and we are confident that our pre-Christmas forecast of an increase of 3.5% on Christmas 2014 will be realised, if not exceeded.”
Burke also noted that tax reductions in the recent budget come into effect this month, and he is hopeful that this will help extend the positive sales trend into the New Year.
© 2016 - Checkout Magazine by Brian Dermody