Consumer Confidence
This coverage explores trends and insights into consumer confidence and their impact on the UK retail sector. Reporting includes survey data, economic indicators, shopper sentiment, and analysis of how confidence levels influence spending patterns, sales performance, and strategic planning. Designed for retail executives and managers, it provides context for understanding demand fluctuations and preparing for market challenges.
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Apr- 2023 -21 AprilNews
UK consumer confidence increases by six points, says GfK
GfK’s Consumer Confidence Index was up six points in April and is now at -30, compared to -38 in April 2022. UK consumers’ expectations for the general economic situation over the next 12 months have increased by six points as well to -34, which is 21 points better than April…
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17 AprilM&A
Retail M&A deals up 30% since pre-pandemic times, study finds
The number of UK M&A deals targeting retailers has increased by 30% since before the pandemic, with 34 retail M&A deals announced in 2022 compared with 26 in 2019, according to research by international law firm, RPC. This marks only a marginal decline from 35 retail deals in 2021 –…
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11 AprilHigh Street
UK retail sales jump 5.1% in March
Total retail sales in the UK were up 5.1% in March according to data from the British Retail Consortium and KPMG. This is above the three-month average growth of 4.8% and the 12-month average growth of 2.6% for the five weeks between 26 February and 1 April. Like-for-like retail sales…
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Mar- 2023 -27 MarchFeatures
It’s always someone’s birthday: gift cards remain evergreen
Inflation and rising living costs have turned consumers into paranoid penny-pinchers, who are cautiously awaiting the next fiscal catastrophe to empty their wallets once again. According to Barclays, nearly six in 10 Brits are actively curbing their discretionary purchases, which has led to just a 5.5% uplift in year-on-year spending…
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24 MarchEconomy
Consumer confidence rebounds despite looming financial concerns
The UK consumer confidence index has increased ahead of expectations by seven points in February, according to consumer goods data analyst GfK. The index analyses five scores: the personal financial situation over the past and next year, general economic situation over the past and next year, and the major purchase…
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22 MarchClothing & Shoes
Scotch & Soda files for bankruptcy for Dutch operations
Scotch and Soda has filed for bankruptcy for its Dutch operations after a structural cash flow deficit led to a “failure to absorb the negative effects of corona and high inflation”, despite record revenues last year. In a statement published on its Linkedin page, the clothing brand said the courts…
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16 MarchEconomy
Retailers welcome budget but ‘missed opportunity’ for rates reform
Retail has welcomed the support for households in the face of the cost of living crisis in the chancellor’s Spring Budget but some have criticised it as a “missed opportunity” for business rates reform. Headline measures announced by the chancellor included an increase in corporation tax to 25% for businesses…
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14 MarchOnline & Digital
Virgin Wines launches business review as profits plummet
Virgin Wines has launched a full review of the business after profits tumbled to £0.1m in its half-year results, down from £3.2m the prior year, as the business was hit by challenges “particularly” over the peak Christmas trading period. In the six months ended 31 December 2022, total revenues were…
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14 MarchEconomy
Retail jobs at lowest four quarter average in over a decade
The number of retail jobs in the UK was down to its lowest average four quarter level in over a decade, according to ONS Labour Market figures. The four quarter average dropped to 3.05 million retail jobs in December 2022, down from 3.08 million in December 2021. The overall number…
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2 MarchEconomy
Shop Price inflation hits 8.4% in February
Shop price inflation reached a record high in February amid warnings that consumers are unlikely to see prices dropping again for months, according to the latest figures from the British Retail Consortium (BRC). Shop Price annual inflation accelerated to 8.4% in February, up from 8.0% in January and well above…
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