British business is bracing itself for a difficult year ahead, new research from Europe’s leading open banking platform, Tink, has revealed. In a recent survey of UK online retailers, half (50%) said they are worried about how their business will survive the next 12 months, with four in ten (41%) afraid of going bankrupt. As […]
Sales figures are not adjusted for inflation. Given that both the November SPI (BRC) and October CPI (ONS) show inflation running at historically high levels, the small rise in sales masked a much larger drop in volumes once inflation is accounted for. Covering the four weeks 30 October – 26 November 2022 On a Total […]
We now include a bullet on YoY footfall changes. These figures are positive as, while retail remains below its pre-pandemic levels, it has continued to improve over the past year. In January we aim to return to focusing on YoY figures but will also provide a comparison to pre-pandemic levels for continuity. Covering the four […]
Trustly, a leading Open Banking provider, today reveals that Open Banking can maximise online returns for retailers this Black Friday Weekend, as in-person shopping remains below pre-pandemic levels. The findings are set out in a whitepaper, titled “How to maximize your Black Friday sales this year with Open Banking payments”, which is based on an […]
Period Covered: 01 – 05 November 2022 Shop Price annual inflation accelerated to 7.4% in November, up from 6.6% in October. This is above the 3-month average rate of 6.5%. This marks another record for shop price inflation since this index started in 2005. Food inflation accelerated strongly to 12.4% in November, up from 11.6% in […]
Consumer confidence is shown to be at record lows ahead of holiday quarter, and rising inflation and food prices could see consumers give turkeys and gift sets the cold shoulder this festive season. The holiday season is upon us, but it might not spell festive cheer for the whole of the retail industry due to […]
UK online retail businesses could increase their gross sales by up to £200 million during the 2022 Black Friday weekend (25th – 28th November) if failed payments are avoided, according to the latest analysis by BR-DGE’s failed payments calculator. Recent data from VoucherCodes forecasts that UK shoppers are set to spend £8.71bn this Black Friday […]
BR-DGE strategic partnerships lead Tom Voaden said: The implementation of PSD2 and Secure Customer Authentication (SCA) has been a stand out milestone for the payment and fintech community over the past few years. For the most part, it has been a resounding success with studies showing that nearly three-quarters of retailers have seen a drop in fraud in […]
Responding to the latest CPI inflation figures which shows headline inflation at 11.1%, and food inflation at 16.2%, Helen Dickinson, chief executive of the British Retail Consortium, said: “With the energy price cap rising in October, households found their gas and electricity bills going up again, pushing inflation to a new high. Food prices, particularly […]
As consumers look to spread their seasonal spend across November and December due to the impact of the current economic climate, retailers are shifting their Black Friday sales strategies to meet consumer preferences and drive spending. The first half of November shows retailers have significantly accelerated their Black Friday sales campaigns compared to previous years. […]
