19th December 2011

Umbrella company contractors in retail sector see unexpected upturn

Umbrella company contractors working in the retail sector have enjoyed an unexpectedly busy period.

The latest data from the Office for National Statistics (ONS) revealed that sale values rose by 4.5 per cent in comparison to October 2010. This was divided between a 7.8 per cent increase in sales values seen in small stores and a 3.6 per cent growth in larger stores.

The news comes as research from Saga has revealed that the older generations are keeping up expenditure. Indeed, two thirds of the over-50s told Saga that they are not planning on changing their seasonal spending plans, despite the ongoing difficulties in the wider financial climate.

Roger Ramsden from the Saga Platinum credit card department, commented: “Platinum spend, platinum cards - and a silver lining for shopkeepers would appear to be the message from older people that they'll be pushing their shopping trolleys around supermarkets and splashing the cash in gift shops in defiance of the downturn.

"With 21 million over-50s in the UK, and more than two-thirds of them saying they'll be spending as usual this Christmas, it may not bring the biggest of smiles to retailers' faces, but it'll certainly give them some reassurance."