Currys cheers festive sales boost in face of cautious consumers ‘hoarding cash’
Major UK tech retailer reveals its most popular items
- Currys reported a strong Christmas trading period, leading to an upgraded profit outlook for the year, driven by a 6% revenue increase over 10 weeks to 10 January.
- Sales in the UK and Ireland rose by 3 per cent, while the Nordics saw a significant 12 per cent jump, contributing to the retailer's increased market share.
- The electronics retailer saw high demand for AI-powered technology, including robot vacuum cleaners, wearable tech, and smart glasses like Meta Ray-Ban and Oakley Meta, with the latter's sales soaring by 270 per cent.
- Despite the strong performance, CEO Alex Baldock noted that UK consumers remain cautious, “hoarding cash” and concerned about inflation and interest rates, with the overall technology market down 2 per cent.
- Currys is also seeing growth in its iD mobile network, which increased subscribers by 19 per cent, and its technology repair service, which saw a 7 per cent rise in sales.