Latest Scottish total till data figures from the Scottish Retail Consortium
LOVE was in the air last month as sales across Scotland picked up speed with Valentine’s Day, according to the Scottish Retail Consortium (SRC).
In the latest SRC-KPMG Scottish retail sales monitor, total sales in Scotland increased by 9% during the four weeks to 25 February compared to the previous year. Adjusted for inflation, this number still remained a positive at 0.6%.
Director of the SRC, David Lonsdale, has put this success down to Valentine’s Day buying as many consumers decided to spoil their loved ones.
He said: “Scottish retail sales held up better than expected in February. While the real-terms growth rate was admittedly slight, it was nonetheless in positive territory for a fourth consecutive month.
“However, the challenges for retail are far from being in the rear-view mirror and the costs crunch affecting households and firms could make for a bumpy few months ahead.”
These concerns were echoed by Paul Martin, partner and UK head of retail at KPMG, who said: “The outlook continues to be challenging, with falling consumer spending in real terms and, as more people choose to shop by ‘occasion’, retailers will be pulling out the stops for a buoyant Mothers’ Day and Easter.”
