In more bad news for the High Street it appears that retail sales have fallen more than expected in November by 0.4% compared to last year and 0.7% compared to October. Also there are early indications of a fall in footfall in December. It is not surprising that some larger retails like La Senza, Peacocks and Blacks are needing to take drastic action.
Unfortunately, there are more squeezes coming on the consumer in 2012 next year with the changes to taxes and benefits. Funnily enough it is quite complicated and the full list of changes can be seen here. Generally, the biggest ones are the change of indexing from RPI to CPI and some changes to tax credits. 2013 will see means tested child benefit which will take alot of money out of the pockets of stay at home mums who have a high earning partner. This could cause more problems for coffee shops etc in the high streets of affluent towns.