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News - 17 January 2014

Strong retail sales in December

The Office for National Statistics (ONS) have suggested growth in consumer spending with December retail sales up 5.3% on a year ago.

Stuart Coleman, Manager of the Tax Department of ABDS comments:
“This is the fastest annual growth in more than nine years, and the sales were also up by 2.6% when compared to November.”

Kate Davies from the ONS said: "This December was much better than what we've seen in previous years. It's the small stores that are very much driving growth - they are seeing a consistent gain of 8% annual growth, while large stores are seeing 2.6% growth."

Online sales now accounted for about 12% of sales, and growth in online was being seen across all sectors due to the investment many retailers were putting into their websites.

If you need any help and advice on SME or the retail industry strategy, contact Lavinia Newman or Peter Ham now to discuss how ABDS can help bring their experience to these matters.

Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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