Period Covered: 01 – 07 February 2023 Shop Price annual inflation accelerated to 8.4% in February, up from 8.0% in January. This is above the 3-month average rate of 7.8%. This brings shop price growth to a fresh high. Non-Food inflation accelerated to 5.3% in February, up from 5.1% in January. This is above the […]
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 29 January – 25 February 2023 According to WRC-Sensormatic IQ data: Welsh footfall increased by 14.9% in February (YoY), 0.3 percentage points […]
Grocery price inflation rose again to reach 17.1% in the four weeks to 19 February 2023, the highest level ever recorded by Kantar Aldi pushes its market share to a new record, hitting 9.4% Ocado losses push to -£74m as cost-of-living crisis bites Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown: “Ocado Retail has seen […]
New research by Santander UK1 reveals the impacts of the rising cost of living on retail SMEs (small-medium sized enterprises) and the efforts they are making to keep afloat – and support their local communities through the current economic challenges. Almost two-thirds (65%) of UK retail business owners report that the rising cost of living […]
January retail sales were announced today: Retail sales, Great Britain – Office for National Statistics (ons.gov.uk) Sarah Coles, head of personal finance, Hargreaves Lansdown: “January sales tempted even the most squeezed shoppers, as deals pushed overall retail sales up 0.5%. Things looked even healthier for non-food stores – up 0.6%, department stores – up 0.8%, […]
Retail finance products such as BNPL and digital credit are in high customer demand, but what options are best suited to your business? The sustained rise of flexible payment types, which continue to erode the market dominance of traditional options like debit and credit cards, is mirroring the changing demands of consumers, helping them to […]
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 […]
