Sales in December expected to grow slower than in 2008
2009-12-10
Retailers expect December sales in 2009 to grow slower than in the same month in 2008 despite the boost expected from Christmas sales. In the past few years, the December retail sales grew by 50% yearly; this year, due to the economic downturn, retailers expect only a 30% growth. Although over the first week of December, the number of customers visiting shops increased by more than 30% compared to the autumn months, the Christmas budget this year is estimated by retailers to be down by 20-25%.