Pressure on personal finances rises February 1, 2011 The proportion of people saying they “have no spare cash” has risen to 27 per cent, according to the latest consumer confidence survey, released today. This was six percentage points higher at the end of 2010 than a year earlier and the highest since the survey began in 2005, according to the Nielsen Company and [...]
West End shop sales soar ahead, defying post Christmas slump February 13, 2011 LONDON’S West End stores have seen strong growth in sales in January, despite the rise in VAT and sluggish wage growth, it was revealed today. Retail sales were up 5.8 per cent compared to the same time last year, the New West End Company said. An increase in menswear was particularly notable, it said, reporting [...]
One in five new graduates faces unemployment January 26, 2011 GRADUATES were hit with an unemployment rate of 20 per cent in the third quarter of 2010, official data showed yesterday. This was the highest unemployment rate for new graduates in over a decade, and double the rate seen before the recession. By the end of the recession graduate unemployment was twice the national rate, [...]
Business demands pro-growth Budget February 27, 2011 BUSINESS groups will today begin lobbying the chancellor in earnest ahead of next month’s Budget, urging him to adopt policies that promote economic growth. The British Retail Consortium will deliver a 20-point plan to George Osborne, which it says will help its members to maintain and create jobs. It is recommending an 18-month notice period [...]
VAT shock yet to be passed to consumers February 8, 2011 INFLATION in UK shops rose to 2.5 per cent in January – from 2.1 per cent in December — despite retailers absorbing much of the hike in VAT, a comprehensive survey revealed today. Even more price pressure could spill through to consumers in the coming months, the British Retail Consortium warned. “Retailers generally took the [...]
Why the consumer is no longer king March 7, 2011 WHY are so many people still in denial? The era of debt-fuelled spending, from the private and the public sector, is over. A crisis caused by excessive and underpriced debt cannot be resolved by borrowing even more. It is a simple proposition. Virtually all companies, many individuals and some governments now understand this – but [...]
Shoplifters bag £400k a day January 17, 2011 SHOPLIFTERS are costing British retailers almost £400,000 a day, according to new figures. A survey from the British Retail Consortium (BRC) found that the total year-on-year cost of high street shoplifting was £137m, having risen from £99m. The value of individual items taken by shoplifters has also risen to an average of £70 from £45. [...]
Shoplifters bag £400k a day January 17, 2011 SHOPLIFTERS are costing British retailers almost £400,000 a day, according to new figures. A survey from the British Retail Consortium (BRC) found that the total year-on-year cost of high street shoplifting was £137m, having risen from £99m. The value of individual items taken by shoplifters has also risen to an average of £70 from £45. [...]
High street sales growth in slowdown January 27, 2011 RETAIL sales for January are up on the same time last year, yet sales growth slowed considerably, according to the Confederation for British Industry (CBI). And consumer confidence has plummeted to a 12 month low, separate data from researchers GfK NOP revealed today. The positive balance of retailers reporting a year-on-year increase in sales dropped [...]
Tube strike to hit west end sales December 20, 2010 London’s retailers could be severely affected by tube strikes on Boxing Day, the British Retail Consortium (BRC) has warned. Almost one fifth of retail spending takes place in the capital, providing 380,000 jobs, they said. And the strike could damage the industry at a crucial moment, as shops try to tempt customers ahead of the [...]