A LIVERPOOL-BASED retail expert claims the UK high street is being cautious over stock ahead of an uncertain Christmas trading period.

Jason Leach, at accountancy firm PricewaterhouseCoopers, said mixed messages about the economy and concern about house prices and the impact of public spending cuts are forcing retailers to plan ahead for another cautious festive season.

Despite reports of an increase in like-for-like sales in June, the majority of retailers in the North West are once again planning to stock moderately for the festive period to avoid the risk of being caught out by potential dips in consumer confidence. To take advantage of consumers seeking to spread their spending, many retailers are preparing to launch their Christmas ranges as early as possible.

Mr Leach said: “It’s a case of once-bitten twice-shy.

“Many retailers were caught out in Christmas, 2008, and left with goods that they were unable to sell. In 2009, they stocked more conservatively and this paid off with an improvement in profitability and they are expected to take a similar approach this year.”

Recent reports about house price volatility will be particularly unsettling for consumers in the region.

PwC’s UK Economic Outlook report, published in July, stated that there was a 70% chance that house prices would not have recovered to 2007 levels by 2015, in real terms.

It warned of a “high degree of uncertainty over future house price prospects”.

The impact of imminent public sector cuts on jobs is also a concern.