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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Dec- 2021 -9 December
Moonpig revenue dips in H1
Moonpig has revealed that year-on year revenue fell by 8.5% to £142.6m in the half-year ended 31 October, despite reporting a revenue growth of 115% on a two-year basis. The group also saw EBITDA decline by 15.1% over the period while pre-tax profit plunged by 43% to £18.7m, as the…
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7 December
Footfall shows signs of Omicron hesitancy
Footfall rose by only 0.7% in UK retail destinations last week against the week before, according to new data from retail expert Springboard. It said that the uplift was derived from rises in shopping centres that saw an increase of 2.3%, and retail parks where footfall increased by 1.3%. Meanwhile,…
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6 December
Sustainability ‘falls down agenda’ for retailers, report finds
Sustainability is less important now than it was a year ago for a quarter (24%) of retailers, while 8% say it has fallen down the agenda “quickly”, according to new research from UK law firm TLT. A fifth (21%) of retailers said sustainability was not currently important to their business,…
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Nov- 2021 -30 November
High street footfall drops on Black Friday for first time
Footfall across UK retail destinations rose by 2% last week from the week before, despite high street footfall falling on Black Friday for the first time in history, according to retail experts Springboard. It found that high street footfall on Black Friday declined by -0.5%, the first drop since Black…
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26 November
Shoppers to face biggest Xmas price rises in over 30 years
UK shoppers are set to face the biggest Christmas price rises in over 30 years after the “angst of widespread shortages” sent people rushing to the shops this November, according to the latest CBI quarterly Distributive Trades Survey. It revealed that consumer concerns about a lack of stock this month…
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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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