According to a report by ShareCast.com, consumer confidence dropped to -17 from -13 in October as the UK struggles through the continued recession, unlike other European countries such as Germany and France, which have returned to growth.
This comes after the CBI reported a fall in service sector sales during the past three months. Forty-eight per cent of business and professional services firms, including those in accountancy, law and marketing, reported a drop in sales. Similarly in the consumer services sector, including hotels, bars and travel firms, 48 per cent of businesses reported a fall in sales.
So can etailers expect to fare any better? According to Sky news, online retailers are anticipating a huge spike in sales today, as consumers make a start on their Christmas shopping.
Retail analyst Robert Clark explains: “This will be the biggest Christmas for online spending. Every year is the biggest Christmas, because each year [online retail] gets bigger and bigger.”
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