27 September 2016
The clothing sector is one of the few sectors to have seen a boost in figures in the year leading up to September 2016, according to the Distributive Trades Survey. Clothing sales saw an increase of 41 per cent compared to this time last year, bucking the trend of an overall slump in figures across the retail sector.
The news comes as retailers are warned to remain positive but cautious ahead of the key Christmas season.
“It’s encouraging to see that sales of clothing are above seasonal norms,” says Rain Newton-Smith, chief economist at industry analyst CBI. “However, consumer confidence has been dented since earlier in 2016 and higher inflation is likely to squeeze household incomes over the year ahead. With margins remaining tight, retailers are set to continue to operate in a fiercely competitive environment for some time.”