Sky News  Producer John Holliday

Families are more worried about their financial future, than any time in the last 20 years.

New research reveals consumer confidence is now in freefall, having dropped for the 10th month in a row. And with higher petrol prices, grocery bills and mortgage costs, it's easy to see why the slowdown has been so severe.

But are you checking the pound in your pocket? And if you could open a shop on the High Street at the moment would you?

Well one man who's competing for your money with the likes of Primark and Marks and Spencer thinks there will be no let up for struggling shops. 

Phil Wrigley, the Executive Chairman of fashion firm New Look, told Jeff Randall that the outlook for retail wasn't good - and it won't get any better next year.

But he did have a positive word for the internet, saying website sales at New Look were growing by five per cent.