Dismal Sales Volume In Christmas Shopping Season Shows Consumers' Cautious Attitude

According to the data released by the British Retail Association, total retail sales in December 2014 dropped by 0.4% over the same period last year, the worst since 2008.

At that time, the collapse of Lehman led to the spread of the crisis, and the total retail sales in the UK dropped by 3.3%.

December is the most popular shopping season for retailers, but the data released before are uneven. This is also the latest sign of poor retailing performance.

Previously, Marks & Spencer admitted that sales in the Christmas shopping season were bleak, but Next and John Lewis sales were strong.

Debenhams and Morrisons will wait until late Tuesday to release sales figures.

Executive director of the British Retail Association

The retailer's performance in December is generally justified.

"What is certain is that retailers' targeted discounts have significantly increased sales, and many customers have entered the door with discounts, but consumers' pockets seem to have not been fully liberalized," she said.

The co author of the data, David McCorquodale, director of the British Retail Association and KPMG, stressed that the heavy discounts played a significant role in the sales of Christmas shopping season in Mike C Koa.

He thinks that behind the American black Friday crazy discount, consumers are increasingly cautious about spending. Many people take a wait and see attitude. They hope that there will be more discounts in the future.

"Although the sales environment is facing challenges now," he said.

It is still not easy for us to achieve fair sales volume, especially in

。

As for profit margins, we still need time to witness. "

Economists had predicted that a lot of lower cost of living, such as oil prices, would stimulate consumers to increase their spending, but it turned out that consumers were still cautious in this regard.

Economists believe that the May general election and the uncertainty of global economic growth are a blow to consumer confidence.

Retail analysts pointed out that even if the sales volume of British retailers rebounded in 2015, the reduction of prices would bring greater challenges to profit margins.