Last month proved to be yet another disappointing one for retailers, according to the latest SRC-KPMG Scottish Retail Sales Monitor.
Scottish sales were down 2.4% compared to October 2014, when they fell by 1.2%. Like-for-like sales were also down and, adjusted for deflation, total Scottish sales decreased by 0.6%.
Total food sales were down 3.2% on October 2014, when they had decreased 2.7%. This figure is still marginally ahead of the average over the past three months however.
David Lonsdale, Director of the Scottish Retail Consortium, called the results “pallid” and commented: “With the spotlight on the Autumn Statement and the Scottish Budget over the next few weeks, retailers will be hoping for measures which put money in peoples’ pockets and which encourage them to invest and grow.”
David McCorquodale, Head of Retail at KPMG, added: “Sluggish Scottish sales serve a sobering reminder of the frailty of the economic recovery when reflected in the discretionary spending of households. The next few weeks are vital for retailers and, with the tactics around Black Friday and the run up to Christmas beginning to unfold, it will be interesting to see how much margin needs given up to drive sales volumes.”
