Retailer expects VAT rise to hit sales after Christmas boom fades.
Ogden of Harrogate is preparing for what it is calling a “January hangover”.
The jewellery and watch retailer said that it is expecting a strong December with shoppers trying to beat January’s planned VAT increase by buying goods before the tax hits 20 percent. However, once the new VAT is in place Ogden of Harrogate is expecting a spell of tough trading.
Ogden of Harrogate director Robert Ogden said: “We are expecting a strong December shortly followed by a January hangover with the VAT rise. However, we’ve been here before; last year was a record December followed by the most appalling weather in January.”
Despite reservations about the impact of the VAT rise, the retailer, which this month is planning to open its second store in York, is feeling confident about Christmas trading.
Ogden said: “We are certainly feeling bullish and stocking at the level we were this time last year.”