The UK's retailers are ­reporting cautious optimism as they look ahead to a new year of shopping.

David Lonsdale, director of the Scottish Retail Consortium, told the Sunday Herald: "The prospects for further steady if unspectacular growth in consumer confidence this year look encouraging."

"Admittedly, the looming prospect of interest-rate hikes may dampen consumers' spirits, as might any concerns over personal tax rises from either the UK or Scottish governments.

"However, a combination of low inflation, further strengthening of the employment market and a sustained growth in wages should ensure that Scottish households' real disposable incomes grow over the coming year or so."

Meanwhile a UK-wide snapshot survey carried out by the British Retail Consortium has shown that UK retailers are optimistic about their fortunes in 2015; with many predicting an improvement in sales and increases in both investment and employment levels over the next 12 months.

The survey showed that 76% of respondents reported expected their sales to improve in 2015 compared with 2014. Some 67% of retailers said that their investment levels were set to increase and 78% said they were likely to be employing more staff next year.

When asked to list their top concerns for the year ahead, 68% responded that weak consumer demand worried them most, followed by the continuing pressure of business rates (53%) and weakness in the economy (47%).

However, when asked what changes the Government could bring forward to make the UK a better place to do ­business, a sizeable majority of the retailers surveyed (74%) opted for fundamental reform of business rates - proving once again that this remains a key concern for the UK's largest private-sector employers.