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DIY contributes to growth in British retail sales

Recent consumer spending research undertaken by Barclaycard has highlighted the impact of the DIY sector on rising sales in the UK.

DIY and home improvement stores witnessed an increase in sales of over 5 per cent during the period of the survey. This could mean that there has been greater demand for floor sanding in North Wales where, alongside the North West, the report suggests consumers are ‘confident and affluent’, as opposed to ‘stressed and cash strapped’. Chris Wood, a head operating officer for Barclaycard, has said:

“With the UK’s economic prospects continuing to improve, and as consumers look forward to the summer ahead, spending on entertainment and leisure, large household purchases and overseas holidays was up strongly.”

The British Retail Consortium (BRC) has also found convincing evidence of a buoyant British economy, with annual like-for-like sales having increased by almost 2 per cent since June 2014.

The main drivers of the sales growth in question have been identified. Low inflation, high employment and rising wages have all combined to boost consumer confidence this summer.

Although Barclaycard has pointed out that sales have basically been on the up across the whole country, their analysis has confirmed that regional differences in economic performance have persisted. The growth of London sales has exceeded 5 per cent, while the spending increase in the South West was markedly lower at less than 4 per cent.

Helen Dickinson, the director general of the BRC, has pinpointed one important fact about the statistics. She has maintained that sales growth in June 2015 seemed more impressive because of a poor month last year.

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