The Masked Tulip Posted June 6, 2011 Share Posted June 6, 2011 http://www.bbc.co.uk/news/business-13677076 Retail sales dipped in May as the absence of Bank Holidays revealed customers' unwillingness to spend, say retailers.The British Retail Consortium (BRC) said sales values fell by 2.1% compared with May 2010. Sales had risen in both March and April as a clutch of Bank Holidays gave people the time and incentive to spend. The BRC said the May figures were a more realistic reflection of the "tough conditions" on the high street. Shoppers bought fewer items across the board, with sales of clothing, footwear and big ticket items all falling. The 2.1% fall refers to same-store sales - stripping out store expansions or closures. The BRC said that overall sales were also lower, down by 0.3% on May last year. 'Realistic' Stephen Robertson, the organisation's director general, said: "After two previous months distorted by the later Easter and extra bank holiday, this is a more realistic reflection of how tough conditions on the high street really are. "Customers' fundamental reluctance to spend is now clear to see. " He said households' disposable incomes were being squeezed by high inflation and low wage growth. Uncertainty over the effects of Government cuts was also weighing down consumer confidence about their future finances. Quote Link to comment Share on other sites More sharing options...
Timm Posted June 6, 2011 Share Posted June 6, 2011 Something printy this way comes. Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted June 6, 2011 Share Posted June 6, 2011 I wouldn't call it a reluctance to spend. It is called, 'being skint'. Quote Link to comment Share on other sites More sharing options...
Timm Posted June 6, 2011 Share Posted June 6, 2011 I wouldn't call it a reluctance to spend. It is called, 'being skint'. Would having more money sort that? Quote Link to comment Share on other sites More sharing options...
@contradevian Posted June 6, 2011 Share Posted June 6, 2011 The chickens are finally coming home to roost for the elites that ruthlessly decided to outsource and insource. Once the credit cat dried up, no one can afford your lovely stuff! Quote Link to comment Share on other sites More sharing options...
_w_ Posted June 6, 2011 Share Posted June 6, 2011 Would having more money sort that? Yes indeed! As we have seen, money injections end up straight in the bankers' pockets who proceed to spend it on luxury items. Excellent for the luxury industry and one single yacht will be enough to skew monthly retail numbers nicely. Quote Link to comment Share on other sites More sharing options...
Self Employed Youth Posted June 6, 2011 Share Posted June 6, 2011 Would having more money sort that? Yes, in the form of wage inflation, or price deflation. Quote Link to comment Share on other sites More sharing options...
Kazuya Posted June 6, 2011 Share Posted June 6, 2011 Would having more money sort that? Yes, in the form of helicoper drops Quote Link to comment Share on other sites More sharing options...
MC Fur Q Posted June 7, 2011 Share Posted June 7, 2011 I wouldn't call it a reluctance to spend. It is called, 'being skint'. +1 I am surprised by the lack of excuses, even going as far as calling the figures "realistic". Surely the hot weather meant people spent time at the beach or BBQ? I demand more creativity from the BRC! Quote Link to comment Share on other sites More sharing options...
Mr Yogi Posted June 7, 2011 Share Posted June 7, 2011 (edited) Could we be seeing the beginning of the end of the era of 'shopping' being a recreational activity? I suspect we might... ... I remember when people only went to the shops to buy stuff they actually needed. A return to this mindset would do wonders for the nation's sanity, if not for the retail economy, which is built largely on flogging crap to idiots. Anyway, when it comes to larger purchases, everyone I know only uses shops to establish what product it is they want to buy, and then looks for a second-hand one on ebay or similar. Edited June 7, 2011 by Mr Yogi Quote Link to comment Share on other sites More sharing options...
mattyfc Posted June 7, 2011 Share Posted June 7, 2011 (edited) I also have had enough of the BRC. The y/y figures they release are utterly useless and provide absolutely no useful information. They only serve to attempt to pressure the MPC to prevent IR rises and keep house prices up. Last time I checked there was a world cup last year and there was a large boost in retail sales in May in the lead up to it. Comparing this year’s figures to last may is utterly ridiculous. (http://www.guardian.co.uk/business/2010/jun/17/world-cup-retail-sales-boost) Just as last month’s +5.2% and the month before -3.2% were also utterly useless and completely nonsensical. 0 It will give the BBC etc a nice excuse to campaign for no IR rises and high house prices. CBI realized sales was above expectations again for May, the m/m figures from the ONS will provide a better insight without the huge distortion of the world cup last year. Edited June 7, 2011 by mattyfc Quote Link to comment Share on other sites More sharing options...
geezer466 Posted June 7, 2011 Share Posted June 7, 2011 All the factors we were warned about by Darling and Merv after the Banks fell over are starting to fall back into place again..... The Country is headed for a very dark place. Could it be that the effect of the QE money is now wearing off? Quote Link to comment Share on other sites More sharing options...
inflating Posted June 7, 2011 Share Posted June 7, 2011 The savers used to spend their interest, but alas they were thrown out with the bathwater Quote Link to comment Share on other sites More sharing options...
DungBeetle Posted June 7, 2011 Share Posted June 7, 2011 All the factors we were warned about by Darling and Merv after the Banks fell over are starting to fall back into place again..... The Country is headed for a very dark place. Could it be that the effect of the QE money is now wearing off? No it is the effect of worldwide stimulus wearing off. QE was designed to monetise government debt (as well as reduce the price of debt) to prevent a bond auction crisis for the government. Your or I saw none of this money. Quote Link to comment Share on other sites More sharing options...
OnlyMe Posted June 7, 2011 Share Posted June 7, 2011 (edited) Would having more money sort that? Apparently not, havng more inflation and currency devaluation shoved down your throat will though. Graph to show total failure of QE2 in the US. http://pragcap.com/the-qe3-conundrum Still yet more offshoring and outsourcing from this even more overpriced island of debt pushers junkies is bound to be the solution. Edited June 7, 2011 by OnlyMe Quote Link to comment Share on other sites More sharing options...
mattyfc Posted June 7, 2011 Share Posted June 7, 2011 Apparently not, havng more inflation and currency devaluation shoved down your throat will though. Graph to show total failure of QE2 in the US. http://pragcap.com/the-qe3-conundrum Still yet more offshoring and outsourcing from this even more overpriced island of debt pushers junkies is bound to be the solution. Anyone wonder why oil is $100 / $115 despite clear signs the global economy is slowing fast? As soon as more QE is announced oil will start heading for $150+. Very simple, who will hold dollars when the fed seems determined to print $600bn every 6 months? Money from the real economy is drained in to petrol stations plenty of inflation is produced but growth and jobs are damaged heavily. Hopefully the fed will have realised the rather obvious conclusion. QE will damage retail sales here the same way it has in the US. Quote Link to comment Share on other sites More sharing options...
mel in w9 Posted June 7, 2011 Share Posted June 7, 2011 Retail sales dipped in May as the absence of Bank Holidays revealed customers' unwillingness to spend, say retailers. Weren't there TWO Bank Holidays in May??? Quote Link to comment Share on other sites More sharing options...
gf3 Posted June 7, 2011 Share Posted June 7, 2011 The savers used to spend their interest, but alas they were thrown out with the bathwater If that is true. How did they get their money in the first place? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 7, 2011 Share Posted June 7, 2011 (edited) Weren't there TWO Bank Holidays in May??? yeah, but the weather was too nice. Worse still, if people are spending less, its not down to the commodity inflation that is "the wrong sort", as people would have bought less, but spent the same. No, its people stopping or slowing down their spending....do I need that extra pair of shoes, or will I make do? Edited June 7, 2011 by Bloo Loo Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted June 7, 2011 Share Posted June 7, 2011 (edited) yeah, but the weather was too nice. Worse still, if people are spending less, its not down to the commodity inflation that is "the wrong sort", as people would have bought less, but spent the same. No, its people stopping or slowing down their spending....do I need that extra pair of shoes, or will I make do? May also ha one more day than the prior month and studies at MIT have hown people can take up to two weeks to plan and adapt to the realisation that they have to find 24 hours worth of extra stuff to do. June suffers a similar problem in that having one less day also requires replanning and adaption. Its scientifically known as "Extra/lesser Day Lag" so i dont think theres likely to be improvement in sales again until August when it stabilises Edited June 7, 2011 by georgia o'keeffe Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 7, 2011 Share Posted June 7, 2011 May also ha one more day than the prior month and studies at MIT have hown people can take up to two weeks to plan and adapt to the realisation that they have to find 24 hours worth of extra stuff to do. June suffers a similar problem in that having one less day also requires replanning and adaption. Its scientifically known as "Extra/lesser Day Lag" so i dont think theres likely to be improvement in sales again until August when it stabilises May Day May Day May Day. Quote Link to comment Share on other sites More sharing options...
gf3 Posted June 7, 2011 Share Posted June 7, 2011 May Day May Day May Day. Do they do any adjusting for the five weekend month? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 7, 2011 Share Posted June 7, 2011 Do they do any adjusting for the five weekend month? Pan Pan Pan Quote Link to comment Share on other sites More sharing options...
Ruffneck Posted June 7, 2011 Share Posted June 7, 2011 Could we be seeing the beginning of the end of the era of 'shopping' being a recreational activity? I suspect we might... Lets hope so , all that Chinese tat going in landfills after a few weeks just ain't right. Quote Link to comment Share on other sites More sharing options...
awaytogo Posted June 7, 2011 Share Posted June 7, 2011 Yes, in the form of wage inflation, or price deflation. I think it will be the latter. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.