Tough times

In the view of the market research company Verdict, the UK retail sector is facing extremely difficult years to come, with an alarming mixture of intense competition, market saturation, consumer apathy and a decline in spending looming on the horizon. For the next ten years the market researchers are forecasting annual growth rates of 2.8 per cent compared to an average of 4.9 per cent over the last ten years. Consumer expenditure in the DIY retail sector is expected to increase by 2.2 per cent in 2008, whereas growth in 2007 came to 3.1 per cent.