John Lewis is starting to see shoppers sidestep major purchases and spend on pick-me-ups such as cosmetics in response to economic uncertainty.
Concerns over Brexit, the outcome of the general election, terror attacks and the rising cost of living have sapped consumer confidence, managing director Paula Nickolds said.
Sales of big-ticket items such as washing machines are slightly behind last year as a result.
“[Customers] feel uncertain and worried about what the circumstances will mean for their future financial prosperity. It’s the more considered categories, the arguably deferrable spend, that we’re seeing most affected,” Nickolds said.
In contrast, products that customers tend to buy spontaneously or for a treat are “holding up nicely”. Beauty and womenswear sales are up 7% and 4.4% respectively this year.
Nickolds insisted there was “still all to play for”, with the run-up to Christmas responsible for 40% of profit.
John Lewis plans to refresh product ranges and host more in-store events in the coming months.
