Cost of Living
This coverage examines how the UK’s ongoing cost-of-living crisis is reshaping the retail landscape. Reporting includes the impact of rising operational costs—such as increased National Insurance contributions and higher minimum wages—on retailers’ margins and employment decisions. Additionally, the content highlights shifts in consumer behaviour, with shoppers prioritising value and reducing discretionary spending. The analysis also addresses the broader economic implications, including store closures and job losses, providing insights for retail professionals navigating these challenges.
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Jul- 2022 -8 JulyNews
Cost of living crisis weighs on retail sales growth
High levels of inflation and the deepening cost of living crisis have prompted further slowing of retail sales growth, according to BDO’s High Street Sales Tracker (HSST). It found that total like-for-like (LFL) sales, combined in-store and online, increased by +8.4% in June compared to the equivalent month in 2021,…
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4 JulySupermarkets
Cost of living crisis will not curtail Brits summer spending, M&S finds
The cost of a living crisis is not dampening UK consumers’ desires to make the most of this summer, according to Marks and Spencer’s latest ‘Family Matters’ update. It found the cost of living is cited as a top concern by 82% of UK families, up 10% since the end…
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Jun- 2022 -27 JuneEconomy
Cost of living crisis could lead to ‘mild recession’, report warns
There is a rising risk of the UK economy falling into a “mild recession” due to the cost of living crisis, according to the latest economic report from KPMG. In its quarterly report, the ‘Big Four’ accounting firm said that the UK economy faces a number of global and domestic…
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27 JuneEconomy
High street footfall plummets amid cost of living strain
High street footfall fell 25% in May against the previous month, according to RSM UK’s analysis of the latest data from Datscha, showing that the biggest month-on-month decreases were seen in Glasgow (down 54%), Newcastle (down 40%) and Brighton (down 39%). Footfall is reportedly still 48% lower than pre-pandemic levels,…
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16 JuneHigh Street
Boohoo announces sales drop amid cost of living crisis
Boohoo has announced that its revenues declined 8% in the first quarter of 2022, but are up 75% over the three-year pre-pandemic period reflecting multi-year market share gains across the Group’s multi-brand platform. Gross demand growth was up 9% year-on-year, with net sales impacted by the ongoing normalisation of returns…
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May- 2022 -30 MaySupermarkets
Sainsbury’s to invest £500m to help with cost of living crisis
Sainsbury’s price investment is set to top £500m in a bid to help customers amid the ongoing cost of living crisis. It comes as the group said it was aware of rising pressures on household budgets, adding it was determined to “offer low prices and deliver the best possible value…
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13 MayEconomy
John Lewis chair Sharon White calls for cost of living aid package
Chair of the John Lewis Partnership, Dame Sharon White, has urged the government to issue a new aid package to help support consumers through the cost of living crisis on the same scale as Covid relief. Speaking on the Peston Show on ITV, White said “the time has absolutely come”…
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11 MayEconomy
Rising cost of living dents April retail sales
Retail sales decreased by 0.3% in April compared with the year prior, marking the first decline in 15 months as the rising cost of living starts to affect shoppers’ spending habits. According to the latest data from the British Retail Consortium (BRC) and KPMG’s retail sales monitor covering the four…
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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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Apr- 2022 -25 AprilSupermarkets
Asda invests £73m to tackle cost of living crisis
Asda has announced it will be investing over £73m in tackling the cost of living crisis for its customers and colleagues as it has “dropped and locked” the price of over 100 products until the end of the year, with prices reducing 12% on average. The supermarket has also confirmed…
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