Consumers ‘still nervous’ about spending

Shoppers are remaining cautious about spending their money as they wish to avoid debt troubles, it has been suggested.

Craig Phillipson, managing d…

Shoppers are remaining cautious about spending their money as they wish to avoid debt troubles, it has been suggested.

Craig Phillipson, managing director of Shopworks UK, has stated people feel there is a lack of assurance regarding the country’s economy at the present time.

The industry figure was speaking in response to the latest retail sales monitor figures from the British Retail Consortium and KPMG, which revealed a sales drop of 2.3 per cent when compared with the same time last year.

Mr Phillipson cited a number of factors for the decrease.

“It is just a spot of short-term nervousness. It is no doubt a bit of uncertainty about Greece, about the euro and about the election,” he explained.

The specialist added that a solid Conservative and Liberal Democrat coalition could benefit the situation.

Figures from the report showed that clothing and footwear sales slowed in April, as customers tended to purchase only essential day-to-day products.

By Joe Shervin

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