With UK inflation at around 2%, a study predicting just a 0.8% increase in Christmas spend this year is bad news for stores. And it could be worse under a no-deal Brexit as the prediction would be scaled back to 0.2%.
Bonmarché wasn’t the only UK retail chain to file for administration on Friday with Scottish department store operator Watt Brothers also throwing in the towel after a history stretching back 104 years.
Last week’s Brexit deal and the pulling of Saturday’s Parliamentary vote have left the UK retail sector back where it has been for the last three+ years, facing an uncertain future as consumers shun unnecessary spending.
It may seem counter-intuitive to some people to pay in advance for a service that saves you money on future product orders that you might not actually place, but such schemes are ever more popular with UK consumers.
As consumers increasingly focus on diversity at the stores they patronise, e-tail giant Zalando has announced that it’s aiming for “balanced gender representation in its senior management with wider moves also coming.