London Retailers Gloomy

[libitina]

LONDON's retailers are failing to experience the pick-up in High Street spending enjoyed by stores elsewhere, it emerged today.

In a gloomy report that will add to jitters among the capital's retailers in the run-up to Christmas, the London Retail Consortium said sales are still falling and show no signs of bottoming out.

http://www.mailonsunday.co.uk/pages/dmstan...d%3D62%26ct%3D5

I heard this being discussed on ITV news 24, but can't remember if it was yesterday or today. They mention that people were put off shopping in London due to 7/7 bombings. Cobb;ers!! How does that explain the downturn across the rest of the UK? If the IRA and the Blitz don't put people off, I don't think this will.

It's simple. People have run out of credit!

[AteMoose]

Doesnt doom and gloom normally come out before the MPC meeting?

[shermanator]

I think you're both right and wrong, Libitina.

I wholeheartedly agree that this credit induced consumer boom has ended and it will get far worse, whatever happens to interest rates.

However, I reckon this consumer recession has been exacerbated in London due to several factors. Terrorism, parking, congestion tax, yobbos, filthy streets, crime, muggings etc. It's just a very unpleasent place to shop now. This is why more people are shopping in the safe but anodyne retail emporiums such as Bluewater.

You're right, people have simply run out of credit but it's the West End where the biggest fall-out is taking place.

[munimula]

However, I reckon this consumer recession has been exacerbated in London due to several factors. Terrorism, parking, congestion tax, yobbos, filthy streets, crime, muggings etc. It's just a very unpleasent place to shop now. This is why more people are shopping in the safe but anodyne retail emporiums such as Bluewater.

Or online as online sales are constantly increasing.

I see what I want in the shops then go on ebay and always find it 10%+ cheaper including postage.