Company Formation Owners Look Forward to World Cup Uplift

The retail sector has encountered many challenges since the beginning of 2010; first came the increase in VAT and then some of the worse weather conditions this country has ever seen. Both of which resulted in a decrease in consumer confidence and subsequently consumer spending and left company formation owners in the retail sector under immense pressure.

However, the last month’s improvement in weather and anticipation of the World Cup has lead to an increase in the amount of money consumers are spending on the high street.

According to the Office of National Statistics, retail revenue improved by almost five per cent in May compared to the previous months activity.

James Drake, spokesperson for the ONI , comments ; “ While at the begging of the year customers were understandably concerned about their economic future , now , in the context of a new government, the imminent World Cup and improved weather customers have begun spending again”

“As the World Cup approaches retailers should be poised to make the most of the opportunity of increased consumer confidence. “