Retail sales growth in London hit its lowest levels for four years with like-for-like sales in August dropping 5.9% for the month.
Accroding to the BRC-KPMG London Retail Sales Monitor sales growth from June to August in the capital was up just 0.2%.
Better weather than last August’s downpours led people to pursue outdoor activities as apposed to shopping, the report said.
It also highlighted the earlier start of Ramadan as one reason for the slowing of sales growth, as visitors from the Middle East returned home earlier than last year.
BRC director general Stephen Robertson said: “The pound is less weak than it was, erodingLondon’s appeal for overseas visitors. Like domestic shoppers, tourists are also more cautious.”
He added: “Clothing and footwear and big-ticket household goods suffered the biggest sales falls. People who bought summer fashions during June’s heatwave and warmer clothes in July’s downpours didn’t buy more and customers are still reluctant to make major commitments.”
No comments yet