The latest Scottish Government’s Retail Sales Index has revealed that the value of retail sales in Scotland fell 0.9% in the first quarter of this year, down by 0.2% over the year to the end of March 2015.
The dip in the early part of this year followed growth in the previous quarter.
The figures mirror the findings of a similar survey carried out by the Scottish Retail Consortium. The SRC’s Director, David Lonsdale, was disappointed with the flat performance over the year. He said that lower prices in shops and at the petrol pump, coupled with a more optimistic outlook for jobs and wages growth, had yet to translate into increased consumer spending at shop tills.
“The retail industry continues to undergo profound change due to structural and regulatory as well as economic factors,” he commented. “Responding to these changes will require substantial outlays on ICT infrastructure, a more highly skilled workforce and revamped shops and warehouses, against a backdrop in which shop prices are at record lows, margins are thin and costs – including business rates – keep rising.”
Lonsdale concluded: “With the outcome of the General Election almost upon us, the retail industry in Scotland is looking to the next government to put in place a convincing plan to boost consumer and business confidence.”
