Scots waiting for bargains before parting with cash
Canny Scots are waiting for bargains before committing to spending on Christmas gifts, new research suggests.
Sales in November on a like-for-like basis fell 2.7% but grew in the days after Black Friday. Non-Food sales, adjusted for the effect of online, grew by 0.4%.
David Martin, head of policy & external affairs at the Scottish Retail Consortium (SRC), said: “Learning the lessons from last year, consumers ducked the frenzy of the Black Friday bargain hunt on the high street and made more of their purchases online in November.
“The evidence suggests that consumers held back their spending in the first few weeks of November in order to capitalise on the deals and offers during the final week of the month.
“Promotions stimulated sales in of cosmetic products and electrical items, as households get ready for Christmas, while consumers continued to spend on big ticket items like furniture.
“The Black Friday event disrupted sales patterns in November and only time will tell what true affect it has had on the build up to Christmas.”
David McCorquodale, head of retail at KPMG which produces the monthly figures jointly with the SRC, said: “The evidence suggests Scottish consumers are waiting for promoted bargains before committing to spend. The unknown element of this standoff is whether retailers will feed this discount addiction before Christmas, or, hold their nerve and their margins.”