Data news and archive

Inflation rises once again as shoppers remain cautious

For the period November 1 to 7, shop price inflation was higher than the previous month for what was the first time in 17 months, despite remaining largely in the negatives, new figures by the British Retail Consortium (BRC) have shown. Shop price deflation was at 0.6 percent in November, up from deflation of 0.8 percent in the previous month,...

Business|Report Featured

Shoppers to spend two billion pounds on secondhand gifts this Christmas

The secondhand market has already taken precedence over consumer priorities in recent years, and it seems that even into the festive season, the sector will continue to enjoy a favourable environment. In fact, according to new research by Vinted and Retail Economics, UK consumers are expected to spend over two billion pounds on secondhand gifts...

Retail

Retail sales marginally drop in October amid Budget ‘uncertainty’

New figures by the Office of National Statistics (ONS) have revealed a slight drop in retail sales volumes in the UK throughout the month of October. According to the data, quantity bought in the region fell 0.7 percent, which comes on the back of a marginal 0.1 percent increase in the month prior. This contrasted figures reflecting the year to...

Retail

Fashion sales take ‘biggest hit’ in October despite increases elsewhere

For the four weeks spanning September 29 to October 27, the British Retail Consortium (BRC) reported a “disappointing” retail sales growth of just 0.6 percent year-on-year, against a growth of 2.6 percent in October 2023. This was below the three-month average growth of 1.3 percent and the 12-month average growth of 1 percent, and came despite a...

Retail

October footfall marginally drops due to inclement weather

Retail footfall across the UK took a slight dip over the month of October as inclement weather conditions and a shift in school half term holidays kept shoppers at home. According to MRI Software, from September 29 to October 26, footfall fell -0.6 percent across all retail destinations compared to the month prior. The same decline was also...

Business

Shop prices fall in October, fashion sales ‘turning a corner’

New figures have shown a drop in shop prices for the beginning of October, with deflation sitting at 0.8 percent, down from deflation of 0.6 percent in the previous month. According to the British Retail Consortium (BRC), which tracked its data from October 1 to 7, this latest figure also came below the three-month average rate of -0.6 percent,...

Retail

Back-to-school shopping helps boost UK retail sales

Retail sales in the UK saw a welcomed boost for the five weeks to September 28, as back-to-school shopping and autumn clothing demand helped bump figures up. For the month, total sales rose 2 percent year-on-year, against a growth of 2.7 percent in the same period last year. This was above the three month average growth of 1.2 percent the...

Retail

UK footfall up in September as weather improves

Footfall in the UK rose for the first time in over a year in September, increasing 3.3 percent year-over-year and up from -0.4 percent in the month prior. Helen Dickinson, chief executive of the British Retail Consortium (BRC), which published the data with Sensormatic, credited the uptick to “mild temperatures” that she said had left retailers...

Retail

August retail sales marginally up, clothing stores lead

New figures published by the Office of National Statistics (ONS) have shown that in August retail sales were marginally up on the month prior. Volumes rose by 1 percent during the month, which followed a more subtle rise of 0.7 percent in July. The uptick was accredited to warmer weather and end-of-season sales, according to reports from...

Business

Bank of England maintains interest rate at 5 percent

The Bank of England has placed the UK’s interest rate on hold at 5 percent after it was reported that inflation rates stayed at 2.2 percent in August, above the bank’s 2 percent target. The widely-expected decision was made following a meeting by the Monetary Policy Committee (MPC), who voted by a majority of eight to one to maintain the current...

Retail

Retailers urged to improve workplace wellbeing as cases of poor mental health rise

A new report by retail industry charity the Retail Trust has brought to light concerns over mental health issues among UK retail and call centre staff. To collate its data, the organisation surveyed over 1,300 retail workers, 17 percent of which said they had missed at least one day of work this year due to poor mental health. Among the...

BusinessFeatured

New York’s fashion industry is yet to recover, but what can be done to save it?

New York Fashion Week (NYFW) SS25 remains ongoing, and while previously cloaked in the shadows of its European counterparts, the increased presence of celebrity front-rowers and the inclusion of brands once dedicated to Paris or Milan could signal a return to its original status. The city’s wider industry has also been undergoing a revival after...