Cost of the Christmas shop will be lower than it was three years ago December 5, 2016 Despite the worries about rising prices post-Brexit, the family Christmas shop is set to be cheaper this year than it was three years ago. Figures from the British Retail Consortium (BRC) and Nielsen showed that shop prices fell 1.7 per cent in November; the same level of deflation reported the month before. Read more: Chilly weather's [...]
Business growth remains steady as high street has a rosy month, Confederation of British Industry (CBI) data shows December 4, 2016 British businesses enjoyed modest growth in the three months to November, and are expected to maintain the pace into 2017, according to a survey published today. Private sector growth remained steady in the last three months, research from the Confederation of British Industry (CBI) showed, while retailers and consumer-facing companies reported a rise in growth. “The [...]
Annuity rates have surged since the summer providing relief for customers on the hunt for fixed returns December 1, 2016 With annuity rates at rock-bottom levels and the cancelling of plans for a secondary market, it's been a tough year for retirees hoping to secure a decent fixed level of income. However, finally there is some relief as it was revealed annuity rates have jumped by 10.6 per cent since August. On a £50,000 cash [...]
City watchdog proposes ban and £234k fine for TailorMade Independent boss December 1, 2016 The City watchdog has today proposed a ban and a fine of £233,600 for the chief executive of TailorMade Independent. The Financial Conduct Authority (FCA) alleges that Alistair Burns failed to make sure TailorMade, which was dissolved in July this year, was providing clients with suitable advice. Between January 2010 and January 2013, TailorMade advised over 1,600 customers to transfer [...]
Online sales soared by over 20 per cent on Cyber Monday November 30, 2016 Cyber Monday was bigger than ever this year, with online sales growing 22 per cent. Shoppers' appetite for cheap goods online has not waned. According to Worldpay, there were 133 payments per second, with global online sales peaking at 16.01. Read more: John Lewis just had the biggest week in its trading history Shane Happach, [...]
John Lewis just had the biggest week in its trading history with nearly £200m in sales thanks to Black Friday November 29, 2016 The jury may be out on the winner of the Christmas ad battle, but John Lewis has other reasons for festive cheer. The retailer has just revealed sales of £199.8m, up 6.5 per cent year-on-year, for the week up to 26 November. Spurred on by Black Friday and its price matching efforts on the "Never [...]
Shoppers spent over £2bn using Visa cards on Black Friday November 29, 2016 UK shoppers spent more than £2bn using Visa cards on Black Friday this year. The figure was up 13 per cent on last year's, and half of the spend was made online. Visa said that there has also been a strong uptake in contactless payments, across all age groups. Among those aged between 55 and [...]
Here are the best Cyber Monday deals November 28, 2016 If you've been trying to bag a bargain on all your Christmas gifts over Black Weekend, but you haven't got everything you need quite yet, don't worry. There's still time: it's Cyber Monday. According to Nationwide, its customers have spent over £15.3m on Cyber Monday deals between midnight and 9am alone. During that period, more [...]
High street footfall increased as consumers looked to do more than shop on Black Friday November 27, 2016 High street footfall had a shocking Black Friday comeback as British consumers looked for an "experience" with their shopping trip, new research suggests. Online sales fell well below expectations, increasing just 6.7 per cent and failing to meet both the forecast of 25 per cent and the 31 per cent rise in 2015. At the same time, high street footfall was [...]
House of Fraser CEO Nigel Oddy has resigned after less than two years at the helm as Christmas trading looms November 27, 2016 House of Fraser chief executive Nigel Oddy has resigned less than two years after taking up the post, leaving the retailer hunting for a new boss at the start of the vital Christmas trading period. Oddy will leave at some point in the new year once the company’s board has found his replacement, the company confirmed. [...]