Charity initiatives aiming to get consumers buying secondhand rather than new may have hurt e-fashion sales last month, a new report shows, but a final resolution to Brexit might release some pent-up demand.
With UK inflation at around 2%, a study predicting just a 0.8% increase in Christmas spend this year is bad news for stores. And it could be worse under a no-deal Brexit as the prediction would be scaled back to 0.2%.
Inditex’s Zara has seen its UK profits falling even though sales there have continued to rise. Full-year 2018/19 sales rose around 10% to £772.5m, but profits were halved as selling and distribution costs rose 7%.
Last week’s Brexit deal and the pulling of Saturday’s Parliamentary vote have left the UK retail sector back where it has been for the last three+ years, facing an uncertain future as consumers shun unnecessary spending.
UK high street and travel retail newsagent WH Smith has delivered a surprise with news that it’s buying US travel retail specialist Marshall Retail for $400m/£312m, radically expanding its travel retail chain.
British shoppers grew more cautious about their spending in the three months to September despite rising wages, official figures showed on Thursday, raising concerns about the economy in the run-up to Brexit.
It may seem counter-intuitive to some people to pay in advance for a service that saves you money on future product orders that you might not actually place, but such schemes are ever more popular with UK consumers.
A leading analyst has said that Harrods really needs to connect with more shoppers in the UK and also to drive more online sales from its tourist fanbase if its wants to push GTV higher as rival Selfridges is doing.