The British Retail Consortium (BRC) has predicted that retailers may see a slump in consumer spending after the Christmas period.
According to the BRC, retailers generally take up to 60 per cent of their annual turnover between November and January.
The organisation predicted that the sale of Christmas goods is likely to total approximately £12 billion this year - five per cent higher that the figure recorded in 2006.
However, having experienced "challenging conditions" so far in 2007, Kevin Hawkins, director general of the BRC, warned that the retail sector may still experience "tougher times ahead".
"If retailers do see a boom this Christmas, it will be followed by a slump in spending, as consumers really start to feel the pinch and tighten their belts," he commented.
In related news, the BRC reported earlier in the month that the general slowdown in retail sales had yet to affect central London.
Sales in the area were 11 per cent higher in October than during the same month last year, it claimed.
