Economy
The latest news, updates and analysis on the economy and how it is affecting the UK retail industry. Sign up to the Daily Briefing and let Retail Sector’s business journalists keep you in the picture.
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Nov- 2021 -26 November
Footfall on the rise ahead of festive season
Footfall in UK retail destinations rose by 4.1% last week compared with the week before, a “considerable improvement” from the rise of 1.5% in the previous week, according to the latest figures from Springboard. In high streets the increase was even greater at 6.2%, nearly double the rise of 3.3%…
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19 November
UK Consumer Confidence improves in November despite high inflation
UK consumer confidence improved by three points in November despite concerns over rising inflation, according to GfK’s Consumer Confidence Index. GfK revealed that four of the index’s measures increased during the period, with a seven-point jump in the major purchase index indicating “good news” for retailers in the run-up to…
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19 November
Retail sales return to growth in October
October Retail sales volumes rose by 0.8%, according to the latest data by the Office of National Statistics (ONS). Non-food stores also saw a rise in sales volumes by 4.2% during the period, with second-hand stores, toy stores and sports equipment stores growing by 6.2%. Meanwhile, clothing stores sales volumes…
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17 November
Ethical buyer impacting retail strategies, study finds
The ethical buyer is having a “significant impact” on future retail strategies, according to a new survey from RSM. RSM’s What’s in Store? spoke to 250 retail executives to gauge what issues and consumer trends are driving boardroom conversations and business priorities for the future. The survey revealed that the…
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16 November
Footfall begins to see Christmas rise
Footfall in UK retail destinations rose by 1.5% last week from the week before, according to Springboard. However, performance varied between retail parks – where footfall declined by -1.1% – and high streets and shopping centres where footfall rose by 2.5% and 1.7% respectively. Springboard said there “was also a…
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15 November
Consumers to spend £21bn this Christmas, says PwC
One in four consumers intend to spend more this festive season, with an average £428 spend per person up from £384 last year, according to PwC’s festive predictions research. It revealed the increase, which is seen across all age ranges and regions, means a total spend of £21bn on presents…
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11 November
UK recovery slows to 1.3% in Q3
UK economic growth slowed to 1.3% in Q3, down from 5.5% in the second quarter of the year. According to the latest figures from the Office of National Statistics (ONS), the level of quarterly GDP is now 2.1% below where it was before the coronavirus pandemic at Quarter 4 (Oct…
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4 November
Footfall improves during October
October footfall saw a “noticeable improvement” to -13.4% lower than in 2019 compared with -17.4% in September, according to the latest figures from Springboard. The final week of the month, which included the October school half term, was “pivotal” in boosting footfall, shifting the average from -14.3% over the first…
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2 November
Footfall surges during half-term break
Footfall across UK retail destinations rose by 11.1% last week from the week before, according to latest data from Springboard. This is just shy of the 11.6% week on week increase in the week before the late May bank holiday. High streets and shopping centres benefited the most with rises…
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Oct- 2021 -22 October
Consumer confidence drops for third straight month
Consumer confidence has dropped for the third straight month in October, down four points to -17, according to the latest GfK Consumer Confidence Index. The long-running index found that all measures were down in comparison to September. It comes as the index measuring changes in personal finances over the last…
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