Stores fear a Black Christmas
STORES are facing a 'Black Christmas' amid evidence that business is waning despite aggressive promotions and price cuts.
High Street sales dipped by 0.2% in November compared with the same month in 2003, the first such fall this year, according to the British Retail Consortium.
Its director-general, Kevin Hawkins, said: 'The figures provide further proof that interest rate rises and fears over the future of the housing market, pensions and the economy have created a subdued, cautious mood among consumers.'
However, there is evidence that wily shoppers are playing a game of cat and mouse with retailers. A study published by accountants KPMG revealed that many are delaying their buying, presumably in the hope that stores will be forced to slash prices.
Some 44% of shoppers will not complete their present buying until the week before Christmas. A further 13% expect to be making purchases as late as Christmas Eve. More than one fifth - 23% - say they haven't yet done any Christmas shopping.
One exception to the gloomy picture for retailers is tried-and-tested family games. Christmas sales of Mousetrap are up an astonishing 1,041%, Kerplunk up 892% and Cluedo up 291%.
The boom comes as parents try to turn back the techno tide. The majority of teenagers now have TVs and music systems in their bedrooms, while they will spend hours plugged into games consoles or home computers.
By contrast, many of the games and toys which are now seeing a renaissance require mothers, fathers and children to play together. Sales of Operation have risen 195%, Junior Monopoly is up 186% and Twister 133%, according to Asda.
