Retailers are optimistic for 2015
A new survey has revealed that retailers are optimistic about 2015 with many predicting an improvement in sales and increases in both investment and employment levels over the next twelve months.
The snapshot survey carried out by the British Retail Consortium shows that 76% of respondents said that they expect their sales to improve in 2015 compared with 2014. In addition, some 67% of retailers said that their investment levels are set to increase and 78% said they will be likely to employ more staff next year.
When asked to list their top concerns for the year ahead, 68% cited weak consumer demand while 53% said continuing pressure of business rates. Meanwhile, some 47% of respondents said they are worried about weakness in the economy.
When asked what changes the Government could bring forward to make the UK a better place to do business, 74% of retailers questioned suggested a fundamental reform of business rates.
BRC director general Helen Dickinson said: “It’s great to see British retailers optimistic about the coming twelve months. After a number of years battling against strong economic headwinds and shaky consumer confidence, it seems as though retailers are set for some cheer in 2015.
“However, given the tentative nature of the recovery in consumer confidence it’s natural that retailers are cautious about the longevity of the upswing we’ve seen recently. It’s also no surprise that the fundamental reform of business rates has come out as top priority for government action. It is an outdated and punitive tax.
“We’re delighted that the Government has decided to back British retailing by committing to review the business rates system and we look forward to working with Government during the course of the review. As the figures from our survey show, the retail industry will be doing its part to drive growth in 2015 – by investing and creating jobs – but these efforts will be hampered if serious solutions to the burden of business rates are not found.”
