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Retailers benefiting from 'shopping cravings'

09 Jun
The need for some women to buy clothes has been cited as one of the reasons why New Look has performed so well during the economic downturn.

Oonagh Brennan, fashion director at Company magazine, suggested that the credit crunch has created a situation where females are looking to cheer themselves up and so are heading to places such as New Look and River Island for some £50-an-outfit retail therapy.

"I think girls still have a craving for shopping and they still have to quench that craving," she remarked.

Expensive items that are bought to last a long time are generally not on the agenda as most women are simply searching for a "quick fix", Ms Brennan explained.

Her comments follow the latest sales figures form New Look, which rose 1.4 per cent on a like-for-like basis in the UK and Ireland during the last financial year.

During the 12-month period, it sold a total of 15.4 million pairs of shoes.
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