Northern Ireland retailers have had one of their poorest June trading periods for more than 50 years, an expert said today.
The latest Bank of England interest rate rise will leave many of them struggling for custom, according to a University of Ulster retailing expert Donald McFetridge, a lecturer in business studies.
Mr McFetridge said: "This latest interest rate rise is bound to be perceived as a terrible blow to those who are hoping to clear out summer stock over the next few weeks."
Mr McFetridge said consumers, already struggling with rising mortgage repayments, mounting credit card bills and increasing loan interest, would inevitably have to tighten their belts following the rise.
He said: "This means retailers will be experiencing greater difficulties in both the short and long term over the coming weeks, months and well into the middle of next year.
"Summer is traditionally a difficult time for many retailers as families depart from these shores for foreign holidays and trips, leaving many high street stores struggling for custom.
"After returning from their summer breaks, parents with children are caught up in the 'back to school' rush with all the obvious inherent costs, leaving less money to splash out on luxury or unnecessary items," he said.