Shoppers buying up a storm

Retailer confidence has reached a record peak ahead of this year's festive season, with retailers reporting higher sales volumes than the strong performances seen in 2004 and last year, the latest Bureau for Economic Research- Ernst & Young Festive Season Retail Trends survey shows.

Retailer confidence has reached a record peak ahead of this year's festive season, with retailers reporting higher sales volumes than the strong performances seen in 2004 and last year, the latest Bureau for Economic Research- Ernst & Young Festive Season Retail Trends survey shows.

The results, which were released yesterday, come despite the fact that inflation is accelerating and interest rates have been raised by a cumulative 1,5 percentage points since June.

The report says that lower-income consumers, who continue to benefit from improving employment levels, are more than compensating for a dip in the demand growth for clothing and footwear. - I-Net Bridge

X