The influx of tourists to the city for the 2012 London Olympic Games had caused excitement among businesses all over London, yet statistics show that during the Olympic period, UK retail sales fell and online sales plunged the most in five years.

Shoppers – both online and on the high street – were said to be distracted by the Olympic Games, causing an unanticipated drop in sales. Economists predict further falls in UK retail sales due to inflation and weak consumer confidence.

For more details, read the article on the Bloomberg website

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