Retail sector confidence builds in run up to Christmas

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13th November 2014 12:13 - Retail

Research commissioned by Barclays’ Retail & Wholesale banking team, has uncovered that retailers within the UK are feeling confident about this year’s Christmas trading.

The research, which included a variety of multi-channel retailers, has shown that 70 per cent are feeling more confident this Christmas trading period than they did last year. Building on that, 28 per cent admitted to feeling “far more” confident.

This year’s large percentage has grown 18 per cent since last year, as the 2013 poll showed only 52 per cent of retailers claimed to be “optimistic” about the Christmas trading period.

Also, 72 per cent of retailers surveyed stated that they are expecting their revenue to rise this year. Of this percentage, 21 per cent are expecting a 10 per cent increase on 2013’s Christmas sales.

Of the retailers polled, 35 per cent expect tablets to be their main sales channel from a growth perspective. However, 19 per cent suggested that smart phones and in-store buying will be their main sales channel.

It is also believed that Christmas shopping via social network sites will be up 20 per cent from last year.

Reflecting the UK’s growing confidence, 12 per cent of retailers believe that customers are going to be purchasing luxury gifts instead of practical gifts.

The research uncovered that 99 per cent of retailers expect website traffic to increase on Christmas Day, as online shoppers take to the web to browse for bargains. The expected peak time for this is between 8pm and 10pm.

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