The Independent Retailer

Described recently as a ‘paradigm of the enterprise culture’1 retailing would appear to look poised for a prosperous future. 1988 was expected to herald the largest year-on-year increase in retail sales since 1980, jumping 91½; per cent to £1033 billion.2 Employment in retailing in relation to other sectors of the economy also looked healthy, showing growth since 1978 of 6.9 per cent, compared to manufacturing industry’s declineof 25.9 per cent. Faced with up-market facilities, competitive prices and a wider choice of quality goods, customers appeared to remain only too eager to line the retailers’ pockets with money. Although precise estimations of consumer spending obviously depend on underlying general economic growth and budget decisions, predictions for spending up to 1990 and beyond looked encouraging with average increases expected year-on-year in real terms over 3 per cent. The improved public profile of many leading retailers for example, Anita Roddick, George Davies, Terrance Conran and Sophie Mirman have improved retail share performances and stimulated interest and more crucially investment from home and abroad. The trend looks set to continue as the work of creating a united Europe by 1992 through the relaxation of financial, legal and fiscal barriers to trade gains momentum.