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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May- 2022 -10 MayClothing & Shoes
Cost of living crisis begins to hamper consumer spending
Spending on essential items dropped to 18.1% in April, compared to 17.4% in March, as inflation and rising living costs are starting to impact the retail sector. Research from Barclaycard found this was largely due to spending on fuel falling from a record 26.1% increase last month to 23% in…
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5 MayEconomy
Consumers must brace for further price rises, BRC warns
The British Retail Consortium has warned that consumers can expect further rising prices as inflation continues to accelerate in the UK. It found that Shop Price annual inflation accelerated to 2.7% in April, up from 2.1% in March, which was above the 12- and six-month average price increases of 0.4%…
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4 MayClothing & Shoes
Joules CEO steps down as group warns of market challenges
Joules has announced that its CEO, Nick Jones, will step down from his role during the first half of the group’s next financial year following three years at the helm, as the group warned of subdued trading amid challenging market conditions. The group said that since joining the business in…
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Apr- 2022 -22 AprilEconomy
Consumer confidence in freefall, says GfK
UK consumer confidence was in “freefall” during April according to the longstanding GfK Consumer Confidence Index. Its index decreased seven points to -38 in April, with all five measures down in comparison to the 25 March announcement. The index measuring changes in personal finances over the last 12 months decreased…
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22 AprilEconomy
Retail sales tumble amid cost of living crisis
Retail sales fell by 1.4% last month as consumers reduced their spending amid the cost of living crisis. This marked a much steeper decline than the fall of 0.5% reported in February 2022, revised from a previous fall of 0.3%. According to the Office for National Statistics (ONS), the biggest…
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12 AprilHigh Street
Retail sales slow as consumer confidence wanes
Total sales increased by 3.1% in March, dropping below the three-month average growth of 6.9% and the 12-month average growth of 10.3% as customer confidence waned amidst the cost of living crisis, according to the latest BRC-KPMG sales monitor. UK retail sales decreased 0.4% on a like-for-like basis from March…
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Mar- 2022 -31 MarchHigh Street
High street footfall continues to lag behind pre-pandemic levels
Footfall levels remain 23% below pre-pandemic levels in February 2022 as rising costs are reportedly set to “batter” retailers from 1 April, according to RSM. The latest data from Datscha, analysed by RSM, shows the overall decline in footfall is the worst in London with numbers on Oxford Street down…
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18 MarchAdvice
Why the time for local businesses to recover is now
The return to the high street is an unmissable opportunity for shops, restaurants, pubs and bars to attract customers back after a challenging period for the retail, leisure and hospitality sectors. The key to success will be offering unforgettable customer service, unique products and experiences, and convenient payment and delivery…
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8 MarchEconomy
Retail sales show continued growth in February
Retail sales increased by 6.7% in February, against an increase of 1.0% in February 2021, a new report from BRC and KPMG has revealed. This is ahead of the three-month average growth of 6.5% but worse than the 12-month average growth of 11.3%. On a two-year basis, total retail sales…
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8 MarchEconomy
Consumer spending surges 13.7% in February
Consumer card spending grew year-on-year by 13.7% in February, the highest growth since November 2021, as the economy reopened following the lifting of Plan B restrictions and work-from-home guidance. Data from Barclaycard revealed that spending on essential items rose 12% in February, driven by an 11.2% rise in fuel prices…
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