The new government should recognise the fashion industry’s contributions to the UK economy and bring back ‘tax free’ shopping VAT relief for tourists, say leading audit, tax and business advisory firm, Blick Rothenberg. Gabby Donald, a corporate tax partner at the firm, said: “London Fashion Week celebrated its 40th birthday this year, and in turn […]
New research, unveiled today by the British Retail Consortium (BRC) in its Budget submission, shows that the retail industry is overtaxed compared to other sectors of the economy. Retail pays 7.4% of all business taxes (£33bn), a share 1.5 times greater than its share of the overall economy (5% GDP). This bill amounts to 55% […]
Consumer card spending returned to growth in August, rising 1.0 % year-on-year following two consecutive months of decline, although it remained below the latest CPIH inflation rate of 3.1 %. Non-essential spending also bounced back (up 0.7 %) thanks to the late arrival of barbecue and picnic weather propping up butchers, delicatessens and garden centres. […]
Covering the four weeks 28 July 2024 – 24 August 2024 According to BRC-Sensormatic IQ data: Total UK footfall decreased by 0.4% in August (YoY), up from -3.3% in July. High Street footfall decreased by 0.3% in August (YoY), up from -2.7% in July. Retail Park footfall Increased by 2.6% in August (YoY), up from […]
Period Covered: 01 – 07 August 2024 Shop Price deflation was at 0.3% in August, down from inflation of 0.2% in the previous month. This is below the 3-month average rate of 0.0%. Shop price annual growth remained at its lowest rate since October 2021. Non-Food remained in deflation at -1.5% in August, further down […]
Responding to the latest ONS Retail Sales Index figures, which showed sales up 2.2% by value, and up 1.4% by volume, Kris Hamer, director of insight at the British Retail Consortium, said: “Following the gloomy start to summer spending, retailers welcomed the warmer July weather which gave sales growth a boost, particularly in areas such […]
Despite the ongoing challenges of the high street, the positive outlook for out-of-town retail remains, with record rents being set within the drive thru / to markets across the UK, according to SHW’s Q3 2024 Retail Focus. On the high street, although prime and secondary rents have remained broadly static, and are expected to continue […]
The latest LocateVenues research from international real estate advisor Colliers, which monitors the retail and leisure offering at commercial venues across the UK, has placed Manchester City Centre in the top spot in a ranking of over 25,000 retail and leisure locations nationwide. LocateVenues analyses metrics including venue type, brand presence and strength, vacancy and […]
Covering the four weeks 30 June – 27 July 2024 UK Total retail sales increased by 0.5% year on year in July, against a growth of 1.5% in July 2023. This was above the 3-month average growth of 0.3% and below the 12-month average growth of 1.4%. Food sales increased 2.6% year on year over […]
Covering the four weeks 30 June 2024 – 27 July 2024 According to BRC-Sensormatic IQ data: Total UK footfall decreased by 3.3% in July (YoY), down from -2.3% in June. High Street footfall increased by 2.7% in July (YoY), up from -3.1% in June. Retail Park footfall decreased by 0.8% in July (YoY), down from […]
