Spend, spend, spend: spirit of Viv Nicholson lives on among shoppers | Larry Elliott
by Larry Elliott from on (#4NBAT)
Consumers are not fretting about Brexit but you can understand why retailers are uneasy over 31 October
Those with long enough memories may recall that Viv Nicholson won what was then a small fortune on the football pools in 1961. Asked what she was going to do with the money, she replied: "Spend, spend, spend." Which she duly did until there was nothing left.
The latest official retail sales figures show that the spirit of Viv Nicholson lives on among Britain's shoppers. Moreover, the spend, spend, spend mentality will be what prevents the economy from sliding into recession, at least for now.
Related: Online shoppers and Amazon Prime Day lift UK retail sales
Continue reading...