Retail performance 'to pick up in the mid-term'

Recent falls in retail sales are only a short-term problem and will return to normal in the near future, an expert has claimed.

Craig Phillipson, managing director of Shopworks UK, claimed that fears this is the precursor to a double-dip recession are unfounded.

Those looking for sales jobs may be relieved, as he said that this is likely to have been caused by uncertainty about Greece, the euro and the General Election.

"I would like to think it has just been a month of a dearth of activity for these reasons," he explained.

Mr Phillipson claimed that the election of the government will result in the market having a better performance than if it were a Labour-Liberal coalition.

His comments followed the publication of figures by the British Retail Consortium showing that retail sales fell 2.3 per cent year-on-year this April.

It suggested that amid the pre-election uncertainty, many consumers were cautious and favoured essentials and replacements over discretionary items.

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Posted by Nikki Barrister

Filed: 14-05-2010