Over the past two years, anyone considering company formation and company registration has been dissuaded from entering the retail sector, due to tales of decreasing consumer confidence, low margins and increasing competition. However, if recent figures are to be believed, it seems that the high street is on the up.
According to recent figures from the British Retail Consortium, high street revenue has increased for the third consecutive month, with over sixty per cent of all retailers surveyed reporting uplift throughout September.
Online saw the largest increase in sales, while independent retailers also reported an increase.
Adrian Hiles, spokesperson for the Federation of British Retailers comments; “The high street experienced uplift as a consequence of sales and the bank holiday. While this is extremely positive, retailers must be aware that revenue may be affected by planned cuts in consumer spending.”