Retail Economics news and archive

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...

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Business

Report: British retail exports to EU fell six billion pounds post-Brexit

New research has shown that international sales to the EU by British brands and retailers have fallen by 5.9 billion pounds since the introduction of Brexit, with uneven impact seen across categories. Among non-food exports, Clothing & Footwear has been one of the most impacted categories, with exports declining from 7.4 billion pounds in 2019...

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Business

Three pillars of resilience in luxury amidst economic challenges

Although some may foresee the end of the global luxury bubble following a significant decline in LVMH’s revenue growth, there’s hope yet for luxury brands and retailers. The fashion industry as a whole, including the luxury sector, has faced several challenges in recent years, ranging from rapid inflation to decelerating economic growth, ongoing...

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Retail

Online consumers to double this holiday shopping season

The number of consumers planning to do their holiday shopping online has doubled from 24 percent in 2019 to 51 percent in 2020, according to new research. The research, commissioned by online data collection service Luminati Networks and carried out by market research service Vanson Bourne, asked 2,000 people, evenly split between the UK and the...

Retail

UK fashion retailers face billions in SS20 stock write-offs

UK clothing retailers are facing an enormous amount of SS20 write-offs as physical stores remain closed and warehouses fail to shift stock. The British fashion market is worth around 55 billion pounds a year in sales, with 80 percent of that coming from physical stores and the remaining 20 percent from online. According to the Times, the three...

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Management

More than a third of UK retailers 'under-prepared' for a hard Brexit

As 29 March fast approaches, and the UK prepares itself - as well as it can - to leave the European Union, new research shows that more than a third of UK retailers aren’t fully prepared for the potential outcome of a no-deal Brexit. The research, conducted by Retail Economics and Squire Patton Boggs, surveyed 26 large UK retailers with a...

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Report

Consumer spend remains robust in spite of Brexit

London - UK retailers can breath a littler easier as the economical and political uncertainty following in the wake of Brexit seems to have had little effect on UK consumer sentiment. 82 percent of shoppers indicated the results of the National Referendum have had no impact whatsoever on their spending behaviour over the last six weeks,...

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Report|ANALYSIS

Next continues to battle 'miserable' sales conditions

London - Earlier this year, high street fashion retailer Next predicted a challenging year ahead and a difficult third quarter - and so far its results have proven this statement to be true. For its third quarter to October 31, total sales dropped 3.5 per cent and retail sales declined 5.9 per cent. Full price sales for the year were also down...