More Lewis consumers turn to credit amid economic crunch
The retailer’s credit sales grew 16.4% in its half-year results
24 November 2022 - 11:00
Retailer Lewis Group, which sells furniture, home appliances and electronic goods, saw an uptick in credit sales as consumers felt the pinch of high inflation, interest-rate hikes, a rise in living costs and increased unemployment on their wallets.
It reported on Thursday in its half-year results to end-September that credit sales grew 16.4% year on year, while cash sales declined 8.1% during the reporting period, reflecting weaker trading conditions and the pressure on the disposable income of consumers...
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