Economy
This coverage explores how economic trends and policies affect the UK retail sector. Reporting focuses on GDP, inflation, consumer confidence, interest rates, and broader fiscal measures, assessing their impact on retail sales, pricing strategies, and operational decisions. Tailored for professionals evaluating market conditions, financial risks, and opportunities within a shifting economic landscape.
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Jan- 2023 -13 JanuaryEconomy
UK economy beats expectations as it grows 0.1% in November
The UK economy unexpectedly grew by 0.1% in November as the World Cup helped boost restaurant and pub sales, according to the latest data from the Office for National Statistics (ONS). It comes as analysts had predicted a fall of 0.3% for the month and has raised hopes that the…
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Dec- 2022 -12 DecemberEconomy
UK economy returns to growth in October
The UK economy returned to growth in October following the period of national mourning after the death of the Queen, according to the latest figures from the Office for National Statistics (ONS). UK GDP is estimated to have grown by 0.5% in October 2022, following a fall of 0.6% in…
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Nov- 2022 -11 NovemberEconomy
UK economy contracts 0.2% in Q3
The first signs of the UK entering a recession reared its head in the last quarter as the economy contracted by 0.2% between July and September, according to the latest figures from the Office for National Statistics (ONS). Monthly estimates published today (11 November 2022) found that GDP fell by…
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Aug- 2022 -12 AugustEconomy
UK economy contracts 0.1% in second quarter
The UK economy contracted by 0.1% in the second quarter of the year (Apr to June) 2022, according to the latest estimate from the Office for National Statistics (ONS). On a monthly basis GDP is estimated to have fallen by 0.6% in June 2022, following an increase of 0.4% in…
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Jul- 2022 -19 JulyEconomy
90% of consumers intend to cut back spending, Grant Thornton finds
New research from Grant Thornton and Retail Economics has revealed that almost 90% of UK consumers intend to cut back their spending on non-essentials over the year ahead. Of those planning to cut back, the research also showed that more than a quarter (28%) intend to do so across all…
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1 JulyDIY
Ikea owner launches circular economy hub in Hammersmith
Ikea owner Ingka Group has officially opened a new Library of Things at Livat Hammersmith, a circular economy concept that allows customers to “affordably borrow” everyday items. Items such as drills, sound systems and sewing machines will be available to borrow from the local hub, while Ingka Group said the…
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May- 2022 -12 MayEconomy
UK economy shrinks in March
The UK economy shrunk by 0.1% in March as consumers started to feel the bite of rising energy prices and the cost of living. The latest figures also come after a period of no growth in February. During the period, services fell by 0.2% on the month and was the…
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Feb- 2022 -7 FebruaryOnline & Digital
MusicMagpie expands service amid subscription economy boom
MusicMagpie has announced that it has expanded its rental subscription service to offer new product categories that include tablets, games consoles and MacBooks, as the subscription economy continues to witness a boom across the UK. Having launched in October 2020, its smartphone service has reportedly attracted around 13,500 active subscribers…
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2 FebruaryClothing & Shoes
Prada appoints two new independent non-executive directors
Prada has announced the appointment of Pamela Culpepper and Anna Maria Rugarli as independent non-executive directors, taking the board up to a total of 11 members. Culpepper and Rugarli were reportedly selected for their professional background in ESG and in accordance with the Diversity Policy of the board of directors. …
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1 FebruaryOnline & Digital
Asos invests £14m in Belfast tech hub
Asos has announced it is investing £14m into a new tech hub in Belfast over the next three years as it continues to scale its investment in technology, creating 184 new jobs with eight permanent staff already on board. As part of the investment, Asos has announced the opening of…
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