Responding to the latest CPI inflation figures which shows headline inflation at 10.1%, and food inflation at 16.8%, Helen Dickinson, chief executive of the British Retail Consortium, said: “While inflation eased for the third month in a row, households are still being squeezed by high prices. The cost of food remains elevated, with the ripple effect […]
Retail experts at business advisory firm Quantuma estimate that corporate failures in the UK retail sector could spike by as much as 71% in 2023. As reported by the Centre for Retail Research, in the first month of 2023 alone, seven UK retailers failed, affecting 361 stores and putting at risk 3,215 jobs. Quantuma chief […]
Responding to the Embargoed Treasury Press Notice “Business rates bills to drop by a fifth for retailers from April”, Helen Dickinson, chief executive of the British Retail Consortium, said: “The government took an essential step towards longer term reform of the broken business rates system by the scrapping of downwards phasing of transitional relief. Finally, […]
Difficult trading conditions continued into the new year for ecommerce, where total market online retail revenue growth experienced a -2.2% YoY decline, presenting negative-on-negative growth against the huge, lockdown-affected rate of -22.5% in January 2022. That’s according to the latest IMRG Online Retail Index, which tracks online sales for 200 retailers. It also saw a […]
Sales figures are not adjusted for inflation. Given that both the January SPI (BRC) and December CPI (ONS) show inflation running at historically record levels, the rise in sales masked a much larger drop in volumes once inflation is accounted for. Covering the four weeks 1 – 28 January 2023 UK Total retail sales increased […]
Cart abandonment last year sat at 80% (in Q2 2022); clearly there is a huge proportion of consumers simply not completing their desired purchase. Clearly there is a breakdown in the customer journey and at its heart lies an intersection of trust in a brand and the buying process, and the overall customer experience. BNPL […]
We have now reverted to using Year-on-Year (YoY) footfall change. We will still provide a comparison to pre-pandemic levels (Yo4Y) in the first table (and last bullet) for continuity. Covering the four weeks 01 January – 28 January 2023 According to BRC-Sensormatic IQ data: Total UK footfall increased by 12.5% in January (YoY), 2.6 percentage […]
Period Covered: 01 – 07 January 2023 Shop Price annual inflation accelerated to 8.0% in January, up from 7.3% in December. This is above the 3-month average rate of 7.5%. This leaves shop prices at record-highs. Food inflation accelerated to 13.8% in January, up from 13.3% in December. This is above the 3-month average rate of […]
In the fourth quarter of 2022, the overall GB vacancy rate improved to 13.8%, which was 0.1 percentage points better than Q3 and 0.6 percentage points better than the same period last year. This was the fifth consecutive quarter of falling vacancy rates. All locations saw improvements in vacancy rates in Q4: Shopping Centre vacancies […]
Klarna, the global leader in the generational shift away from credit cards, has today revealed exclusive new data from PriceRunner, a Klarna company, showing the products which are bucking the inflationary trend this winter. Household goods, sports equipment, and luxury items have all fallen sharply in price over the past year. With inflation hitting 11% […]
