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Shops face worst ever January
Mark Blunden5 Jan 2009
RETAILERS across London are bracing themselves for their worst ever start to the year as sales stagnate following bumper Christmas trading.
January is traditionally a lean time and retailers are straining already tight margins with further price cuts, such as a £500 handbag cut to £80 at Selfridges. Anita Manan, senior analyst at Experian Business Strategies, called the start to the year "depressing" with retailers leaving "no excitement" for shoppers after Christmas discounting.
At least 10 retailers have collapsed in the past two months, including Woolworths and MFI. The remaining 200 out of 807 Woolworths branches will shut for good tomorrow. Ms Manan said: "It will be survival of the fittest. Consumers will become more focused on purchasing necessity products, limiting the numbers purchasing luxury items to the carefree consumers with disposable income."
Delia Hyde, spokeswoman for the New West End Company, said: "We saw a shopping frenzy in December and are now returning to normality."
Reader views (3)
I'm sick of these whingers! The British Retail Consortium and it's moaning members seem to think that the world owes them a living. The shopping experience in the UK high street is about as pleasant as chewing on a rusty razor blade. Even with their cynical "(upto)70% off" sales they are still 50% more expensive than the internet retailers.
- Zady, London, 05/01/2009 16:40
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I've found that in many of the sales, most of it is left over items from the summer and they have kept back all the decent stuff. Do they honestly think people are going to pay full price at the moment. They can't shift the sale stock as they reduced too little too late.
Martin: you would think sales assistants would be bending over backwards to get a sale. I left clothes at a till the other day, as they had closed the changing rooms half an hour early. Maybe they need reminding that a Woolworths could happen to them and every penny counts.
- Triffidqueen, Desk in London, 05/01/2009 13:26
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I went into a local branch of Maplins. I wanted an item they sell for £50. I asked them to match the £40 I found from 4 English internet companies. They refused.
- Martin H Watson, Teddington, 05/01/2009 12:06
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