Scottish retail sales grow 1.0 per cent
Statistics announced today by Scotland’s Chief Statistician in the latest Retail Sales Index for Scotland release covering the period July to October 2015, has shown that the volume of Retail Sales in Scotland increased by 1.0 per cent in the third quarter of 2015 and grew by 4.0 per cent annually.
The value of Retail Sales, without adjusting for inflation, increased by 0.3 per cent in the third quarter of 2015 and grew by 1.2 per cent annually.
Over the year as a whole the value of retail sales in the UK grew by 1.6 per cent.
David Lonsdale, director of the Scottish Retail Consortium, said: “These figures point to a second successive quarterly growth in retail sales which is encouraging. However, when one factors in shop prices which have fallen in each of the past 30 months it shows that retailers are having to work ever harder to maintain let alone grow sales values.
“The period leading up to Christmas is the most important trading period in the year for many retailers and with shop price inflation at a record low and pay growth outstripping inflation consumers are set to benefit from some great deals.
“The prospects for retailers are ultimately determined by the state of the economy and their own ability to adapt and seize on the opportunities that arise. With the clock ticking down towards big upcoming announcements on the UK and devolved budgets in a few weeks’ time retailers’ will be looking for convincing action from the Chancellor and Scotland’s Finance Secretary to improve consumer confidence, as well as steadfast resistance to stem the relentless rise in government-inspired cost pressures which have been witnessed of late or are under consideration. Rising costs divert and exhaust resources which otherwise would be used to grow the business.”