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New Year boost for retail sales

shoppingbagsLike for like retail sales jumped by 1.9% in January, boosted by New Year's Eve spending.

According to the British Retail Consortium/KPMG Retail Sales Monitor, Total retail sales grew by 3%, the largest increase since September, while online sales rose by 10.1%. However the figures include New Year's Eve, which 2012's figures did not.

'After a fairly subdued December, these results are sure to lift spirits. Retailers didn't have high hopes for strong sales at Christmas, but this meant that they prepared well and headed into the New Year with less stock to clear than last year. People were tempted out by offers and promotions but also treated themselves to full-price and premium products early in January, particularly must-have technology items. All in all, these figures give a sense that the mood is lifting a little for customers and retailers,' says Helen Dickinson, BRC director-general.