Cost of Living

The nostalgia trend: Why do companies revive old brands?

A cultural institution in the 90s, defunct in the 00s and making a comeback in the 20s. MFI Furniture is set to relaunch on the British high street after owner Victorian Plumbing revealed plans to relaunch the brand in early 2026, promising a refresh without the frustrations of long online…

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Co-op FY profits soar sixfold but warns of cost pressures ahead

Co-op has seen its full-year pre-tax profits rise by nearly sixfold, soaring by £133m to £161m, up from £28m the prior year, despite facing over £200m of new headwinds and investment costs across the group. The surge in profits was driven by increased operating profits, which rose by £34m to…

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Retail sales slow as high cost of living enters third year

UK total retail sales increased by 1.2% year on year for the four weeks ended 27 January 2023, compared with a growth of 4.2% in January 2023, according to data from the British Retail Consortium (BRC). This was above the three-month average growth of 1.9% and below the 12-month average…

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Cost of living crisis to wipe £65bn from household finances

Inflation and the cost of living crisis are set to wipe £65bn from household finances across the UK, with real earnings not expected to return to growth until May 2024, according to a new report from Grant Thornton and Retail Economics. The report, which asked 2,000 adult consumers in the…

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UK retail rewards programmes influence £74.9 billion in consumer spending

As the cost of living crisis continues to bite, a new report by shopping rewards experts Webloyalty and economists Cebr has revealed the pressures both retailers and consumers face in 2023. With retailers tackling weaker margins and cost pressures and price conscious shoppers shifting their shopping habits as saving money…

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Finding the affordability niche in the market and supporting consumers through the cost of living crisis

The FMCG market is evolving as the cost of living and inflation take hold, and it’s having a huge impact on consumer spending as many people turn away from household names in favour of high-quality, smaller brand alternatives. Consumer behaviour is changing as budgets get tighter Consumers are now seeking…

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Tesco CEO paid £4.4m last year despite cost of living crisis

Tesco’s annual report has revealed that its chief executive officer Ken Murphy was paid £4.4m last year, alongside an additional salary increase.  The CEO received a fixed pay of £1.71m and a performance-related bonus of £2.73m, which according to the group, was slightly lower than his previous pay packet that…

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Ikea invests £12m in cost of living support package

Ikea has announced that it is investing £12m in a pay increase and wellbeing support package for staff across the UK and Ireland to support them during the cost-of-living crisis. Salaried staff will receive a pay rise of 6% on average, in line with the retailer’s commitment to paying a…

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Dreams provides £5m cost of living support package for staff

Bed retailer Dreams has announced that it is providing support for its staff during the cost of living crisis, starting with a £5m package as part of its “people first strategy”. The company plans to advance a pay raise that was due in April 2023 to December 2022. The pay…

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Footfall sees Black Friday lull amid cost of living crisis

Footfall across UK retail destinations rose by a modest +1.6% last week from the week before, driven mostly by high streets (+1.7%) and shopping centres (+2.4%) whilst footfall in retail parks remained largely level from the week before (+0.5%), according to Springboard. Springboard said that this indicates “reservation” in consumers…

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