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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Jan- 2024 -24 JanuaryNews
ProCook announces commitment to Real Living Wage
ProCook has announced today its commitment to paying at least the Real Living Wage for all colleagues, reflecting its ongoing investment in its people. The base rate of £12 per hour will be offered as a minimum to all colleagues regardless of age, with London workers receiving £13.15 per hour. …
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24 JanuaryClothing & Shoes
Quiz blames inflation amid Xmas sales dip
Fashion retailer Quiz has blamed “inflationary pressures” for negatively impacting its sales performance during Christmas trading as its group sales decreased 11% to £8.8m. In a trading update for the four weeks ending 31 December 2023, the group said the reduction reflects the negative impact of inflationary pressures on consumer…
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19 JanuaryNews
Retail sales drop 3.2% in December, ONS says
Retail sales volumes are estimated to have fallen by 3.2% in December 2023, from a rise of 1.4% in November 2023, the ONS has revealed. December’s decrease was the largest monthly fall since January 2021, when Covid-19 restrictions affected sales. Looking at the quarterly picture, sales volumes fell by 0.9%…
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17 JanuaryNews
Today’s news in brief-17/1/24
In a surprising turn of events, inflation in December exceeded economists’ predictions, rising to 4%, contrary to the forecasted decrease to 3.8%. The Office for National Statistics (ONS) reported that the upswing was driven by increases in fuel and tobacco prices. Notably, alcohol and tobacco division prices surged by 12.8%,…
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17 JanuaryEconomy
Inflation unexpectedly rises in December
Inflation unexpectedly increased to 4% in December off the back of rises in fuel and tobacco prices. According to the latest figures from the Office for National Statistics (ONS) the small rise in the annual rate between November and December 2023 was a result of prices rising by 0.4% on…
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17 JanuaryEconomy
Footfall climbed 3.3% in 2023 despite cost-of-living crisis
Footfall steadily rose by 3.3% in 2023 compared with the previous year, despite the rising prominence of the cost of living crisis, according to MRI Software’s latest retail outlook report. The findings suggest that consumers found a way to spread costs, as retail “stood firm” in the face of the…
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15 JanuaryFeatures
Which supermarkets performed the best over Christmas?
According to data from Kantar, Britons made 488 million trips to the supermarkets over the Christmas period, marked out as the four weeks ended 24 December. That number is 12 million more than last year and the largest Christmas period since 2019. This was mildly surprising in a year that…
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11 JanuarySupermarkets
M&S ‘top performing’ grocer over Christmas period
M&S has revealed that it was the top performing grocer in volume growth terms over the Christmas period and the quarter, as food sales rose 10.5%, with like-for-like sales up 9.9%. According to the retailer, supply chain improvements helped to drive better availability year-on-year in its supermarkets. Clothing and home…
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10 JanuarySupermarkets
Sainsbury’s Q3 sales jump 6.5% amid Christmas boost
Sainsbury’s has revealed that its retail sales jumped 6.5% for the 16 weeks ended 6 January 2024. As a result of this the company has reiterated its expectations of an underlying full-year profit of between £670m and £700m. Alongside this, the company’s grocery sales were up 9.3% while its Christmas…
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9 JanuaryHigh Street
Festive period fails to boost retail sales, BRC finds
Total retail sales in the UK rose by only 1.7% in December, against a growth of 6.9% the prior year, as Christmas failed to “make amends” for what was a challenging year in retail. December’s growth was below the three-month average growth of 2.3%, and below the 12-month average growth…
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