Sales season vital for retailers

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Sales season vital for retailers

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It is sales season across Europe with retailers hoping to boost their annual profits with an influx of shoppers after a grim year.

Britain is traditionally the first with sales starting the day after Christmas.

Retail analysts Experian said the total number of shoppers was up 18.55 percent on last year.

But according to Richard Perks, director of retail research at Mintel International, it could be the last hurrah.

He said: “Next year is going to be really tough. Higher interest rates, rising unemployment, higher taxes. We’re really going to see a squeeze on consumers then. This year, they’ve got money in their pockets. They think: ‘We know it’s going to be tough next year. Let’s have a good time.’”

In Germany the national retailer’ association said in the run up to Christmas their members’ turnover was down by an estimated 1.5 percent.

That makes the post holiday period even more important for retailers in Europe’s largest economy as people spend money or gift vouchers they received as presents.

Most European countries start their sales in the new year and some last as long as two months.