Inflation
This coverage analyses the impact of inflation on the UK retail industry, focusing on costs, pricing strategies, consumer spending, and operational challenges. Reporting highlights economic trends, retailer responses, supply chain pressures, and leadership decisions to manage margins and demand. Designed for executives and managers, it offers insights to navigate inflationary pressures while maintaining competitiveness.
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Feb- 2024 -16 FebruaryNews
Today’s news in brief-16/2/24
In January 2024, the UK experienced a significant rebound in retail sales, rising by 3.4% following a 3.2% decline in December. This surge, the largest since April 2021, comes amidst continued inflation, with prices increasing by 4% in January. Despite the rise in prices, consumer spending increased by 3.9%, indicating…
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16 FebruaryEconomy
Retail sales jump 3.4% giving optimism despite recession
Retail sales in the UK jumped 3.4% in January 2024 after falling 3.2% in December, according to data from the Office for National Statistics. This is the biggest rise in retail sales since April 2021 when the UK had just emerged from the third covid lockdown. The price of goods…
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14 FebruaryEconomy
Inflation remains steady at 4%
Inflation remained unchanged at 4% in January, despite forecasters expecting a slight rise as falling food prices offset an increase in the energy cap, according to the latest figures from the Office of National Statistics (ONS). The news comes as the ONS revealed the annual inflation rate for housing, water,…
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14 FebruaryNews
Waitrose invests £30m in price cuts
Waitrose has announced that it is cutting prices by another £30m on hundreds of everyday own brand products. The price cuts begin today (14 February) on over 200 lines including British meat, fruit and vegetables, store- cupboard staples and products sold on our popular fresh food counters, with more price…
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12 FebruaryNews
Tesco boss calls for youth employment reform
Tesco CEO Ken Murphy has called on the government to make youth employment a priority, claiming the apprenticeship levy is “restrictive and impractical”, and that reform is needed. Writing in This Is Money, Murphy also announced a new Tesco apprenticeship scheme for 16-18-year-olds, aimed at students that are “struggling and…
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7 FebruaryNews
Today’s news in brief-7/2/24
Amazon’s Luxury Stores in Europe have partnered with resale platform Hardly Ever Worn It to offer pre-owned luxury items across various categories. This collaboration aims to provide customers in the UK, Germany, Spain, and Italy with access to high-quality, designer goods that have hardly been worn. Hardly Ever Worn It…
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7 FebruarySupermarkets
Jan supermarket sales remain buoyant
Total Till sales at UK supermarkets experienced continued growth (+6.6%) in the last four weeks ending 27 January 2024, according to new data released today by NIQ. The firm said the increase is reflective of a slow down (6.1%) in food inflation, which is at its lowest rate since June…
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6 FebruaryNews
Today’s news in brief-6/2/24
Revolution Beauty has settled a dispute with its former CEO and co-founder, Adam Minto. Minto will pay the company £2.9m over six years, starting with a payment of £483,333.35 due in March. The settlement follows delays in the company’s financial reporting during Minto’s tenure. Both parties agreed to settle without…
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6 FebruaryEconomy
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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2 FebruaryFeatures
Could loyalty schemes bring back the weekly shop?
The weekly grocery shopping spree has been falling out of favour for some time now, with just 16% of consumers now reportedly sticking to this food shop schedule as opposed to 26% in 2020, according to Savanta’s latest Grocery Eye report. Former Ocado Group finance director, Vineta Bajaj, chalks this…
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