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Local shops should be benchmarking their sales performance against a 2% rise in shoppers’ spending, analysis of recent data suggests.
There has been no recession for shoppers, who have spent more in 10 of the last 12 months according to UK government statistics. So what are shoppers doing? Perhaps cutting back on eating out, which means they are buying more treats from local shops!
The average UK household spends £396 a week, which breaks down into £63 for transport; £60 for recreation; £53 for housing; £51 for food; £38 for eating out; £22 for clothing; £11 for alcoholic drinks, tobacco and narcotics (the government’s words!); and £99 for other.
If incomes are falling, perhaps transport and recreation will take the hit first. Tesco is upbeat and Sainsbury’s is downbeat. If you want to be successful, you should be planning for at least 2% growth.
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