UK retail industry proves strong amid recent troubles
The British economy has seen its share of ups and downs in the past few years, as the recession took hold of the country and consumers all over felt a financial pinch. This in turn resulted in lower sales for the nation's retailers. Despite these hardships, the sector has prevailed and is being rewarded with revenue boosts as U.K. shoppers once again purchase products and services.
The Grocer reported that Helen Dickinson, the director general for the British Retail Consortium (BRC), praised the country's retailers for being resilient in the face of economic uncertainty. Factors such as poor weather conditions, drops in consumer confidence and fiscal problems within the U.K dealt a blow to merchants, but sales are starting to pick back up, giving retailers some very welcome news, the source noted.
"At the very least, we've survived a prolonged economic downturn," Dickinson said at the BRC Retail Symposium. "We've continued to deliver quality products at reasonable prices to customers who've had less money in their pockets."
RTT News reported that research from the Confederation of British Industry found that 25 percent of merchants said sales were higher this month when compared to a year ago. Analysts forecast even more sales growth in the coming months.
