Retailers hoping for sales surge
THE British Retail Consortium described last Christmas as “the worst since 1995” but retailers are hoping that the reintroduction of the 17.5% VAT rate in January next year - which was reduced to 15% last year - will spark a surge of pre-Christmas sales.
A recent survey by ICM for Retail Week showed 9% were “very likely” to make large purchases before January, while another 23% were “quite likely” to do so.
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