Friday 20th June 2008
Economic concerns are leading many consumers to buy fewer high-value goods, it has been suggested.
The assertion comes from Richard Dodd, spokesperson for the British Retail Consortium.
He explains that big-ticket items typically face the "toughest times" when affordability issues begin to bite.
Meanwhile, he notes that expenditure on essentials such as food generally remains robust.
"The retailers facing the toughest time have been those selling things like big electricals, furniture in particular - so big-ticket homeware items," he observes.
Mr Dodd continues: "Those are the sectors which are having the toughest times because customers are short of spare cash."
He adds that some goods, such as carpets, are also linked to other sectors such as the performance of the housing market.
The spokesperson also notes that, while some growth may have been seen in the number of shoppers visiting budget grocery stores, such establishments still serve a relatively small proportion of the overall market.
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