UK retail sales: online jewellers shine, but no festive cheer on the high street
Nicholas Hyett, investment manager at Wealth Club, commented: “There was no festive cheer on the high street, which continues its long slow demise. Non-food stores saw sales fall 0.9% in December as shoppers increasingly look online to do their Christmas shopping. That is a depressingly predictable headline, and the result is companies like Claire’s, the Original Factory Shop and Russell & Bromley going into administration.
Among online retailers, jewellers enjoyed a particularly golden Christmas. In uncertain times shoppers seem to be being drawn to dual purpose jewels that not only tick the Christmas present box, but provide a convenient long-term store of value as well.”