Savvy shoppers are boon for some retailers

Despite the challenges facing the high street, savvy shopping behaviour is leading to some bright spots for retailers, according to experts at PricewaterhouseCoopers LLP.

For many retailers, quarterly rent deadlines and a weakness in sterling remain heavy constraints. Yet those at the value end of the market or with a particularly fresh and innovative proposition are flourishing.

In particular, online and youth fashion sales are holding up strongly, with out-of-town discount retailers also faring well.

Savvy shoppers are taking advantage of increased spending power and retailer discounting, according to Andy Lyon, retail expert at PricewaterhouseCoopers in the Midlands. He says:

“Despite the pull on consumer purse strings in the region, a significant number of households will be aware they now have more disposable income than a year ago. This is thanks to series of cuts in the base rate and for some, a reduction in monthly mortgage payments.

“Also, with the Retail Prices Index (RPI) currently at zero, consumer buying power has increased and some items, such as clothing and electrical goods, have become more affordable. This is presenting an opportunity for savvy consumers to benefit from the range of offers currently available on high street products and services.

“While general trading conditions are expected to remain tough, we are likely to see more households taking advantage of such offers on foreign travel, motor cars and home improvements. This will provide a much needed boost for local retailers and the wider local economy, both of which rely so much on consumer confidence.”

Contact details
Email: Andy Lyon
Tel: +44 (0) 1509 604 114