Kate Holton
LONDON: Spending on non-food items on the high street is set to fall in the run up to Christmas for the first time in more than a decade, research forecast on Thursday.
According to a report by Verdict Research, overall retail spending is expected to rise just 2 percent, in the second lowest growth rate in 20 years.
But the growth will be driven by spending in supermarkets while spending on non-food items is set to fall 0.2 percent, according to the Financial Times and Telegraph which carried the Verdict report.
"This is going to be the toughest retailer environment ever," the FT quoted Verdict analyst Maureen Hinton as saying. "The extra 1.6 billion pounds consumers are spending is being eaten up by food inflation."
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