Retail in 2025: The year of personalisation, AI, wellness – and no more barcodes December 24, 2024 2024 has been a tough year for retail. From companies sounding the alarm on business rates in the first half of the year to low consumer confidence and footfall proving stickier than expected, the festive period has now been overshadowed by stark warnings about further cost rises next year. Restructuring partner at RSM UK, Gordon [...]
Mike Ashley’s Frasers lowers profit guidance following Budget December 5, 2024 The retailer expects to deliver adjusted pretax profit in the range of £550-£600m for the 2025 financial year, down from £575-625m previously.
Consumer confidence in the economy dips following Budget November 28, 2024 The British Retail Consortium's (BRC) sentiment monitor showed that consumers' confidence in the economy fell back to -19 in November, down two points from October.
Post-Budget consumer confidence rises in golden quarter boost November 22, 2024 A leading confidence survey has found that consumer sentiment rose in November, which will come as a relief to businesses dependent on a good golden quarter to boost margins ahead of tax rises next year. All five measures of confidence rose, although major purchase intentions led the pack with a five-point jump. “There was evidence [...]
Lower interest rates not enough to rally consumer confidence November 18, 2024 After a steady climb throughout the year so far, consumer confidence dipped in November amid warnings it could continue to fall into 2025. Overall confidence fell from 47.3 in October to 46.9 in November, according to the S&P Global UK Consumer Sentiment Index (CSI) survey. The neutral mark is 50. Chief business economist at S&P, [...]
Housing market continues to strengthen as mortgage rates fall October 29, 2024 New figures from the Bank of England showed that 65,600 new mortgages were approved in September, the highest figure since August 2022.
UK suffering from ‘vibecession’ ahead of the Budget, PwC says October 24, 2024 The firm's latest consumer sentiment survey dipped to -8 at the end of September, its lowest point this year.
Retail sales rise unexpectedly despite Budget tax fears October 18, 2024 Retail sales came in ahead of expectations.
Retailers pin hopes on bumper golden quarter with Black Friday, Cyber Monday and Christmas October 14, 2024 The final three months of the year, also known as the golden quarter, are make-or-break for retailers. Retail spending has consistently languished this year, or been propped up by margin-carving discounts, but pent-up demand is expected to give the sector a much-needed boost during the holidays, according to a panel of industry experts. Despite consumer [...]
Hospitality needs a magic spark of confidence to boom, brewery boss says October 10, 2024 The boss of Britain’s oldest brewer, Faversham-based Shepherd Neame, has suggested that the hospitality industry is nearly ready for a return to a boom period, but only is we serve up a spark of confidence. Neame suggested that if fundamentals remain strong and mortgages continue to fall, consumer spending on hospitality would follow a similar [...]