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News - 14 March 2008
|High fashion, low sales|
Fashion retailers face a tough spring
Although retail sales are up in general (up 1.5%) on last year the fashion industry is still feeling the pinch as people tighten their belts for the predicted recession.
Clothing and footwear sales are down on last year for the fifth month in succession. According to the latest figures from the British Retail Consortium basic essentials value goods are taking precedence over fashion and luxury items.
However, some notable exceptions include the jewellery and lingerie sectors, which have seen a slight increase thanks to Valentines Day. And expensive designer fashion has continued to flourish as the super rich continue to be unaffected by the fluctuating economy.
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British Retail Consortium