John Lewis sees sales upturnMonday, 05 December 2011
Wakely predicted trading for the rest of December should bear up well: “In this economy, people wait for that last pay-cheque and then spend.”
Independent research appears to support that. The Springboard National High Streets Index, which looks at 85 high streets across the country, found that for three weeks out of four in November, footfall rose from last year. “Historically, the third week of November [which saw a 2.5 per cent decline] is a struggle for retailers as it’s one week prior to the last pay day before Christmas and families are often anticipating feeling the financial strain and avoiding the shops,” said Diane Wehrle, research director.
Over the course of the month, 0.7 per cent fewer people hit the high streets, according to Springboard, “the smallest decline for November in four years”.
The store’s price-matching policy means discounting at the brand reflects trends elsewhere on the high street. Mr Wakely said offers at rivals such as Debenhams appeared to have held steady from last year. But Ms Wehrle pointed to retailers cutting prices, and suggested shoppers have been holding out for the best deals.
Image: John Lewis SS11 campaign