A grim Golden Quarter

a man looks pensive infront of a christmas tree

GOLDEN Quarter sales in Scotland are off to a weak start, according to the latest KPMG Scottish retail sales monitor collected for the Scottish Retail Consortium (SRC).

When adjusted for inflation, total sales in Scotland for the four weeks to 29 October fell by 0.3% compared to the same period last year.

Total food sales did have a more positive performance during this time period, however, rising 10.9% against the same time from October 2021.

David Lonsdale, director at the SRC, said: “Weak trading is a huge concern for retailers, who have suffered two successive poor Christmases. With costs skyrocketing, the pressure is building on retailers to deliver a good performance.

“However, the Scottish and UK governments need to urgently assess the costs they are adding to businesses and see where they could lighten the burden.”

Paul Martin, partner and UK head of retail at KPMG, said: “Retailers will be hedging their bets on upcoming events such as the World Cup and Black Friday to boost sales during the crucial Golden Quarter.

“Given the economic headwinds, it is unlikely that the usual festive boost will be enough to counteract the ongoing issues that retailers face with rising costs, squeezed margins and falling demand.”