Oxford street shoppers
(Picture: AP)For millions of families this weekend marks the start of the Autumn half term. When schools return and the clocks have gone back the so called “Golden Quarter” for retailers will begin in earnest. It is the period when profits are made and banked - in a good year. But it is not a good year.
Today’s downbeat retail figures show that the consumer retrenchment is already well under way. Higher energy bills from October -albeit capped at an average of £2,500 for now - and the rolling wave of remortgaging - will dig ever deeper chunks out of household budgets. We have already seen the devastating impact of consumer fright on the “big ticket” furnishing sector, often the “canary in the mine” warning indicator for retail.
