Retailers in Wales Expect Sales to Increase Impending VAT Rise

Retailers in Wales Expect Sales to Increase Impending VAT RiseThe increase in the VAT is all set to implement from January 2011, which would hit spending power of many but prior to that Welsh retailers are expecting the sales to get boosted up as the consumers will wish gaining maximum benefits before the VAT rises.

Form 4th January, the Value Added Tax (VAT) will increase to 20% from 17.5%. Many consumers are getting attracted towards post-Christmas sales season. There were seen about 150,000 visitors to St David's shopping centre in Cardiff. Also, long queues were witnessed from 0230 GMT in Wrexham.

Retailers in Wales have hopes that the consumers will take maximum benefits of sales and would prefer buying large items such as electronic products before the rise in VAT. They told that the sales were encouraging as people had started coming out of their homes for shopping after facing extreme weather before Christmas.

"If people weren't thinking about the VAT rise before Christmas, they definitely are now and we are seeing more high value items being bought before the rise comes into effect", said Steven Madeley, Director of the St David's shopping centre.

As per the centre, since the starting of the sales on Boxing Day, they had seen 150,000 people passing through its doors and it was one of its busiest weekdays post-Christmas.