Number of high street shoppers falls by sharpest level in two years May 16, 2016 The number of people visiting the high street dropped by its sharpest amount in over two years last month, as retailers said they faced a combination of bad weather and weak consumer confidence. Footfall at high street stores dropped by 4.7 per cent in April compared to the year before, according to the British Retail Consortium [...]
Online sales hit the brakes: Digital channel suffers slow growth in April May 10, 2016 Online retail sales growth has slumped to its lowest level in three years, piling pressure on retailers already hard hit by a customer retreat from the high street. Year-on-year online sales were up by just 6.6 per cent in April, more than halving the 15.4 per cent growth recorded in April 2015, the British Retail [...]
Businesses in London face £7.5bn tax increase May 12, 2016 Industry groups have warned of a London exodus if business rates are not cut, as new research predicts that firms in the capital will face a £7.5bn tax hike after next April’s revaluation. Property consultancy Gerald Eve, who compiled the eye-watering estimates, predicts that businesses solely within the Square Mile will have to pay more than [...]
Even the national living wage can’t stop shops from cutting prices May 4, 2016 Prices on the high-street fell in April, despite the introduction of the living wage, according to the latest shop price index from the British Retail Consortium (BRC), published today. Retailers cut prices by 1.7 per cent over the past year — the same rate of discounting as a month earlier and the 36th consecutive period of falling [...]
Britain’s retailers dependent on EU for online growth April 25, 2016 The importance of the EU to the UK’s retailers has been highlighted in a British Retail Consortium report on internet searches released today. The total number of internet searches for UK retail websites was up up 52 per cent in the first quarter of 2016 compared to the same period in 2015, with 14 EU [...]
Women must have a crucial role in saving the high street – a retailer’s survival may depend on it June 7, 2016 Retailers will breathe a sigh of relief today as the joint British Retail Consortium (BRC) and KPMG sales monitor for May shows a modest recovery on the high street. But the respite may be brief as customers remain cautious with their spending. The sector is facing many challenges. Too many retailers are disconnected from their [...]
Why the post-Brexit economic doom and gloom may have been greatly overdone August 10, 2016 Something quite remarkable happened in the UK economy in June. UK broad money growth M4ex rose 5.8 per cent (year-on-year) – its fastest rate since the introduction of quantitative easing in 2009. Indeed, the growth rate is approaching the 6 per cent baseline for broad money growth that the Bank of England announced was its target [...]
What slowdown? New Look is bucking the high street’s trend, as profits leap June 7, 2016 Here's one retailer making hay while the sun shines: New Look, beloved of budget fashionistas, has reported a jump in profits – despite slowing confidence on the high street. The figures In a statement this morning, the UK's second-largest women's clothing retailer said revenues rose 5.4 per cent to £1.49bn in the year to the end of March, while pre-tax profits [...]
Lots of shopping stopped the economy from dropping… maybe May 19, 2016 Brits did not let poor weather, referendum nerves or weak confidence stop them from hitting the shops last month. Retail sales volumes were 4.3 per cent higher in April than last year, according to the Office for National Statistics (ONS), as falling prices brought shoppers out in their droves. Over the month, sales were up [...]
2016 set to be year of retail failures as number of shoppers on Britain’s high streets in “terminal decline” June 1, 2016 The number of consumers on Britain’s high streets is in “terminal decline” as shopping habits change fundamentally, raising the prospect of more retail failures this year. Speaking to City A.M. after the demise of suits-specialist Austin Reed was confirmed yesterday, Diane Wehrle from top retail analyst Springboard said: “We’re no longer going to see increases in footfall [...]