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Retail

UK shop price inflation eases, providing relief for consumers

Inflationary pressures seem to be easing for retailers, offering some respite for consumers, as shop price annual inflation in the UK softened to 0.8 percent in April, a decline from the 1.3 percent recorded in March. Shop Index data from the British Retail Consortium (BRC) and NielsenIQ marks the lowest shop price annual growth since December...

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Business

Retail sales see boost in March but weather dampens clothing sector

Retail sales saw a slight uptick during March, increasing 3.5 percent according to new figures by the British Retail Consortium (BRC) and KPMG. While this appears to be a positive improvement on the month prior, and coincides with a three-month average growth of 2.1 percent, it didn’t hit the more significant increase seen in March 2023, when...

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Business

Greenwashing: BRC boss warns retailers could pull back on eco-friendly practices

Helen Dickinson, the chief executive of the British Retail Consortium (BRC), has warned that a stricter approach to enforcing greenwashing regulations could cause retailers to take a step back with sustainability. Speaking to The Times, Dickinson said that there was “a real risk [retailers] will pull back and not feel confident to shout about...

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BusinessFeatured

UK’s Spring Budget: What to know and how the industry is responding

Jeremy Hunt outlined his Spring Budget earlier this week and, like his prior Autumn Statement, was met with mixed reactions from the retail industry as a whole. His speech to MPs began by outlining the government’s achievement of lowering inflation from 11 percent, when prime minister Rishi Sunak came into office, to 4 percent, which Hunt said “...

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Retail

UK retail sees uptick, but challenges remain for retailers

In response to the latest ONS Retail Sales Index figures, which indicated a 5.2 percent increase in sales by value and a 0.7 percent increase by volume, Kris Hamer, Director of Insight at the British Retail Consortium, conveyed optimistic sentiments. Sales volumes witnessed an uptick for the second time in three months, marking a positive shift...

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Retail

BRC: UK retail crime rises to 1,300 incidents a day

A new report by the British Retail Consortium (BRC) has shown that the number of incidents of violence and abuse against retail workers in the UK has risen to 1,300 a day. This reflected a 50 percent increase in the levels of retail violence, the organisation’s research noted, which covered the course of 2022 to 2023. Next to this, the cost of...

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BusinessFeatured

UK falls into recession, retail industry takes hit

While it is no secret that the past year has proven to be a financially turbulent one for the UK, new data has revealed that the region had in fact fallen into recession during the final three months of last year, as the economy continued to take a hit. According to figures by the Office for National Statistics (ONS), the UK’s gross domestic...

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RetailFeatured

Weak consumer demand slows retail sales in January

UK total retail sales slowed in January, increasing by just 1.2 percent, against a growth of 4.2 percent in January 2023, as high cost of living enters third year. According to the latest British Retail Consortium KPMG Retail Sales Monitor, weak consumer demand meant that retail sales growth slowed, below the 3-month average growth of 1.9...

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Retail

UK retailers continue to face difficult trading conditions

In the latest retail footfall analysis covering the four weeks from December 31, 2023, to January 27, 2024, BRC-Sensormatic IQ data reveals a continued decline in UK footfall. Total UK footfall decreased by 2.8 percent year-on-year (YoY) in January, showing a slight improvement from the 5.0 percent decline in December. High Street footfall...

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RetailFeatured

BRC launches manifesto for retail

The British Retail Consortium (BRC), the trade association for UK retail businesses, has launched its ‘Manifesto for Retail’ ahead of the general election, calling on all political parties to take a “fresh thinking” approach for a better retail future. 2023 was a challenging year for consumers, with the ONS showing that retail sales volumes fell...

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Business

BRC warns cost pressures could delay falling inflation

The British Retail Consortium (BRC) has said that obstacles towards the beginning of 2024 could pose challenges towards a potential decline in inflation, with the organisation calling on the government to reconsider further costs for retail businesses. For the December period, shop price annual inflation remained unchanged at 4.3 percent, coming...

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RetailFeatured

Consumers switch to cash as budget tightens, according to BRC

The British Retail Consortium (BRC) has published the results of its latest BRC Payments Survey 2023, in which it outlined transactions and spending figures for the year. Compared to 2022, UK retail sales rose 4.3 percent to 439.5 billion pounds, an increase that was largely attributed to increased costs throughout the supply chain and the...

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