Budget

Warm weather fails to boost footfall in May

Retail footfall across the UK declined by 1.7% compared with May 2024, spelling a sharp drop from the 7.2% rise recorded in April, according to the latest data from the British Retail Consortium (BRC) and Sensormatic Solutions. The downturn affected most retail locations, with High Streets down 2.5% year-on-year, and…

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Consumer confidence hasn’t recovered since Brexit vote, Barclays finds

Consumer confidence reached its highest point in the past 10 years in September 2016, at 48%, just after the Brexit referendum, according to Barclays’ “10 Years of Spend” report. Barclays has been tracking consumer confidence monthly since 2015 and also surveyed 2000 people in the UK for the report, which…

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The Gen Z and millennial luxury shoppers demanding exceptional service

Consumer shopping preferences often mirror bigger themes at play, whether that’s conversations around the environment and sustainability or budget concerns and cost-of-living constraints. Often, these preferences and non-negotiables change from generation to generation and depend on the product category. For Gen Z and millennial shoppers, quality, sustainability and security are…

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Chancellor resists calls for business relief in Spring Statement

Chancellor Rachel Reeves has resisted calls from businesses for relief ahead of the upcoming tax changes this April, as part of her Spring Statement today (26 March). UK businesses had been hopeful the chancellor would raise the relief rate for retail, hospitality, and leisure after cutting it to 40% in…

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Poppy Elder on trends shaping the bespoke engagement market

Engagement ring sales have grown by 14% annually, driven by a resurgence in marriages that has reversed years of decline in the UK, according to a new analysis by online diamond retailer 77 Diamonds. Exclusive insights from 77 Diamonds suggest that this post-pandemic wedding surge has continued since 2022. As…

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Shop price inflation remains at 0.7% despite surge in food prices

Shop price inflation remained in deflation at 0.7% in February, after also falling to -0.7% in January, according to data from the British Retail Consortium. However, this comes despite food inflation increasing to 2.1% year on year in February, an increase from the 1.6% rise in January and above the…

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UK consumer confidence drops to new low in February

UK consumer confidence slipped to a new low of -37 in February, amid the worsening state of the economy. According to the latest BRC-Opinium Consumer Sentiment Monitor, the economy worsened for the fifth consecutive month, down from -34 in January. The BRC reported that even Gen Z, despite being the…

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BRC warns of 2025 falling sales volume despite December sales growth

The British Retail Consortium (BRC) has warned of possible falling sales volume in 2025 despite the modest increase in total retail sales experienced in December 2024. UK total retail sales in December 2024 increased by 3.2% year on year, against a growth of 1.9% in December 2023, according to new…

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BRC warns of ‘spending squeeze’ in January

The British Retail Consortium has warned of a January spending squeeze, as BRC-Opinium data between 10 and 13 December showed that people’s spending intentions dropped 6pts. It comes as public confidence in the state of the economy “took a nosedive”, falling 8pts to -27, creating a widening gap between expectations…

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YSSO launches Mayfair pop-up

Greek demi-fine jewellery brand YSSO has announced the launch of The House of YSSO on New Bond Street, its first pop-up store in Mayfair which will be open until February 2025. The House of YSSO is open at 76 New Bond Street from 6 December 2024 to February 2025, with…

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