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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Jul- 2023 -18 JulySupermarkets
Supermarkets see largest drop in grocery price inflation since its peak
Grocery price inflation has seen its steepest decline since inflation peaked in March this year, falling 1.6 percentage points to 14.9% in the four weeks to 9 July 2023, according to the latest data from Kantar. It comes as take-home grocery sales over the same period grew by 10.4% compared…
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17 JulySupermarkets
Grocery prices soar more than 25.8% in two years, says Which?
The price of groceries at supermarkets has gone up 25.8% since the cost of living crisis began, according to new data by Which? Which? looked at the prices of more than 21,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose…
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17 JulyNews
Credit insurance lowered for Boohoo suppliers
Leading credit insurer Allianz Trade has lowered cover for Boohoo’s suppliers following the financial pressures faced by the retailer, The Times has reported. The Times said it understood that Allianz Trade has reduced cover by 50% for the suppliers so far, although some have had their coverage cut to zero. …
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13 JulyHigh Street
Poundland owner reports positive growth of 12.5% in Q3
Pepco Group, the owner of Poundland, has reported that third quarter revenues hit €1.37bn (£1.17bn), up by 12.5% year-on-year, with Poundland revenues up by 8.6% despite a “challenging” trading environment. Poundland delivered a particularly strong trading performance in Q3, driven by consumers prioritising spend on FMCG items, with like-for-like revenues…
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12 JulyHealth & Beauty
Superdrug profits soar 71% in 2022
Superdrug has revealed that pre-tax profit soared by 71.7% to £77.8m in 2022, against the prior year’s £45.3m, as online trading volumes continued to track significantly ahead of pre-pandemic levels. The health and beauty retailers also saw a 17% surge in sales to £1.3bn in 2022, up from £1.1bn in…
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12 JulyHigh Street
June footfall sees highest increase since 2009
High inflation and rising interest rates did not impact consumer activity across UK retail destinations last month, according to Springboard, who reported both the highest month-on-month and annual increases in footfall for June in any year since 2009. Footfall rose by +3.7% over the month from May to June, against…
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12 JulyEconomy
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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11 JulyEconomy
UK retail sales rise 5% in June
Total retail sales in the UK were up 4.9% in June, compared with a 1% decline in June 2022, according to data from the British Retail Consortium. This 4.9% increase is above the three month rolling average of 4.6% and above the 12 month rolling average of 4%. As well…
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10 JulySupermarkets
Iceland expects profits to hit 10-year high
Iceland expects to deliver its “highest” profit in over a decade due to its increased focus on value and cost-saving measures, The Times has reported. According to The Times, Iceland told bondholders last week that it was “confident” this year’s underlying profit will be its strongest in 10 years, exceeding…
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7 JulyNews
LFL sales nudge up 1.9% in June, BDO finds
Like-for-like retail sales improved marginally in June, up 1.9%, according to new data from BDO LLP. The latest BDO’s high street sales tracker shows that LFL sales growth remains well below CPI inflation, meaning that sales volumes have fallen significantly as consumers continue to tighten the purse strings. Sophie Michael,…
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