High Street sales in 2015 kicked off strongly, says new research,
The latest CBI Distributive Trades Survey has revealed that retail sales grew strongly in the year to January, slightly exceeding expectations.
The survey of 127 firms showed that whilst sales volumes grew at a slower pace than in the previous month – which benefitted from bumper Black Friday sales – the rate of growth remained healthy, and volumes were well above average for the time of year. Firm growth was anticipated in the year to February.
Internet sales volumes rose firmly again in the year to January, though the rate of growth eased off slightly for the second month running.
Rain Newton-Smith, CBI Director of Economics, commented: “After the sales bonanza of Black Friday cooled down, retailers saw solid footfall through the doors over the Christmas trading period, leading to further robust growth in sales in the New Year. However, under the spotlight of strong competition, some retailers are feeling the heat on their margins.
“Falling oil prices and low inflation mean consumers have a bit more money in their pockets. We expect to see this translate into strong sales growth in the months ahead.”