Bargain hunters set to push up European sales figures in January

Europeans are set to increase their spending in January as they look for bargains against a tough economic backdrop, with a particular focus on online shopping, but Britain will see a fall in real terms, according to a report published yesterday.
By The Newsroom
Published 21st Dec 2010, 09:33 BST

The Centre for Retail Research, in a study commissioned by online shopping comparison website Kelkoo, forecast European retailers would take 118.7bn euros (100.4bn) in the post-Christmas sales, up 2.1 per cent on January 2010.

That compares with a forecast 0.8 per cent increase in spending in the run-up to Christmas.

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The data is drawn from national statistic authorities, independent research organisations including Euromonitor and Mintel and a survey of a cross section of 50 large retailers across Britain France, Germany, Spain, Italy, The Netherlands, Denmark, Norway and Sweden.

"Although the economic circumstances have resulted in a trend towards greater frugality, increased savings, and a reduced use of credit, we anticipate a positive start to 2011 for retailers," Kelkoo marketing director Chris Simpson said.

Spending in Britain is forecast to rise 1.6 per cent, but stripping out the impact of inflation and a rise in VAT sales tax in January, the study forecasts a 3.1 per cent fall in UK retail sales in real terms during the first quarter of 2011.

It predicted online sales would leap 23 per cent to 1.7bn euros in January.

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