It seems all that talk of high street gloom was just that – talk. According to the latest monthly figures from BDO, retail sales were up 3.5 percent sequentially in August. It was the best result since February and although the business climate is far from perfect, things appear to be getting better.
Don Williams, head of retail and wholesale at BDO said the feel-good factor last year came from the Olympics, which means it was artificial, but this year it has more to do with the tone in the media and people being less fearful of getting sacked.
“There is no doubt confidence is returning slowly,” he said.
Homeware sales were up 20.2 percent, the best result since 2007, but fashion wasn’t that hot with an 0.3 percent drop.
“The overall outlook for the UK high street was also positive,” Williams added.”This has been a strong month overall.”
Williams also noted that retailers are getting better at managing their cost base and they are investing more in online.