Online shopping has outstripped all other forms of spending over the past month, with more than half of UK shoppers (57%) saying they are shopping online more than ever and record numbers signing up to virtual experiences like home fitness classes, TV and film subscriptions and online learning during lockdown. The research from Mastercard revealed […]
Following the UK’s first full month under lockdown, April’s online retail sales results have signalled a seismic shift in purchasing patterns. As Covid-19 shut brick and mortar stores up and down the county, online sales growth surged to a 10-year high – up an astonishing +23.8% year-on-year (YoY). That’s according to the latest IMRG Capgemini […]
Covering the four weeks 5 April – 2 May 2020 On a total basis, sales decreased by 19.1% in April, against an increase of 2.4% in April 2019. This is the worst decline recorded since our monitor began in January 1995, reflecting the effect of lockdown measures. It is below the 3-month and 12-month average […]
Consumer spending contracted by 36.5% year-on-year in April, showing the impact of ongoing social distancing measures. Data from Barclaycard, which sees nearly half of the nation’s credit and debit card transactions, reveals that spending on essential items declined by 7.5%, which can largely be attributed to a 58.9% reduction in fuel spend. Supermarkets, meanwhile, continued […]
Klarna, the leading global payments and shopping provider, today released new data that tracks how UK consumer purchasing habits have evolved while under lockdown and as the COVID-19 outbreak continues. The company, which is used by over 7 million shoppers and has over 5,000 retail partners in the UK, analysed all the transactions made through […]
The government has announced a consultation that could significantly impact the VAT accounting treatment for online market places (“OMP”) and possibly delivery agents, say leading tax and advisory firm Blick Rothenberg. Alan Pearce, VAT partner at the firm said: “This is part of the alignment of how EU and non-EU goods will be treated after […]
The British Retail Consortium is proud to announce its new partnership with the Local Data Company to create the BRC-LDC Vacancy Monitor. The launch coincides with one of biggest upheavals to the global economy in modern history, this quarterly vacancy monitor will track changes to the GB retail landscape as they evolve over the coming […]
Thanks to an investigation by RN Magazine editor Jack Courtez and Ian Sloan of Bankier Sloan, small businesses will receive an extra £617m in grants to help them during the Covid-19 pandemic. The editor, who joined RN (the leading trade publication for independent news and convenience retailers) in 2017, conducted a thorough investigation into claims […]
The zero rating of e-books is welcome at time when more people are reading on line, but not all e-publications will benefit, say leading tax and advisory firm Blick Rothenberg. Alan Pearce, VAT partner at the firm said: “This has been brought forward due to the outbreak of coronavirus pandemic and the current lockdown requiring […]
The CBI’s monthly Distributive Trades Survey (conducted between 27 March 2020 and 15 April 2020) reveals that retailers expect a similar pace of decline in annual next month – the weakest expectations in survey history. Orders placed on suppliers in the year to April also fell sharply, with a similar decline expected next month. Retail […]
29/11/2020
Edition 288 – October/November 2020
An ill wind By Business Money group editor Robert Lefroy Lack of cyber securi...
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