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Relentless spring for retailers as BRC finds retail prices rise at slowest rate in over three years Tuesday, 7th May 2013
The latest figures released by the British Retail Consortium and Nielsen find a toxic mix of bad weather, supermarket promotions and long-standing economic pressures led to prices in high street stores rising at their slowest rate in three and a half years. Food prices fell 0.4 per cent in April, while non-food prices dropped 1.1 per cent compared with March to a rate last seen in November 2009.
‘Lipstick effect’ brings boost in beauty sales Friday, 26th April 2013
Long-dubbed the ‘lipstick effect’ for the rise in beauty sales correlating to a dip in consumer confidence, it seems British shoppers are still resorting to small luxury purchases to boost their mood. The latest report from Mintel found spending on beauty and personal care products has increased 11 per cent since the beginning of the credit crisis in 2007.
Retailers widen the real estate net as Soho, Kensington and Tottenham Court Road grow in popularity Monday, 25th February 2013
While Oxford Street and Bond Street continue to demand some of the highest rent rates in the world, it seems retailers are increasingly looking further afield for central locations. According to new research from Savills reported by the Telegraph, rents in areas such as Tottentham Court Road, Kengington High Street and Lower Regent Street could grow by 30 per cent to 50 per cent in the next few years, as retailers continue to clamour for space in the centre of the capital.
Decline in demand for retail space set to continue Tuesday, 29th January 2013
The high street suffers another blow as new research forecasts further falls in rental values. A survey released on Tuesday by the Royal Institution of Chartered Surveyors’ (RICS) found a 13 per cent fall in the net balance of businesses looking to rent retail premises in the final three months of 2012, after an 18 per cent fall in the previous quarter.
Britons expected to spend £86bn this Christmas Tuesday, 13th November 2012
John Lewis premiered its Christmas campaign over the weekend. Retail spending over Christmas is expected come in above last year, with Britons spending a total of £86 billion over the festive period. New research from SAS UK and Verdict find retail spending will rise 1 per cent on 2011’s figures, despite Britons having less disposable income for presents.
“Retailers in distress” closing more than 30 chain stores a day Thursday, 18th October 2012
New research finds struggling retailers in the UK closed 32 stores a day in July and August, as over-expansion and inflexible terms with landlords forced companies to close the doors on their high street locations. The results from Local Data Company (LDC) on behalf of PricewaterhouseCoopers (PwC) found a huge step up from last year’s levels, when only 174 stores closed for the whole of 2011.
High street lifted by rise in footfall Monday, 8th October 2012
New data suggests footfall is on the rise after years of decline. Research from Springboard found footfall fell just 0.4 per cent in the year to September, managing to improve on last year’s 1.2 per cent fall. Long term, it’s hoped the flat figures will put the high street back on track after a double dip recession saw footfall drop 5.3 per cent in 2009 and 10.6 per cent in 2008.
Shop rents drop just 1.1% in last five years Monday, 7th May 2012
Despite a double dip recession, eurozone crisis and the switch from bricks-and-mortar stores to online operations, landlords have offered little respite for retailers, with rent rates falling just over 1 per cent over the past five years. According to the latest figures from research firm IPD, annualised rental values declined by an average of 1.1 per cent over the past five years, from its market peak in December 2008.
China’s e-commerce forecasted to grow 20% annually Tuesday, 17th April 2012
E-commerce sales in China are estimated to grow 20.41 per cent annually until 2016, according to the latest research from Forrester Research Inc. The Internet Retailer reported that Chinese e-commerce will generate USD 169.4 billion (GBP 106.15 billion) in sales this year alone. With a population surpassing 1.3 billion, China is already the leading e-commerce market in terms of sales for Asia-Pacific, although just 40 per cent of Chinese consumers purchase goods online.
Research In Motion reports $125m loss Friday, 30th March 2012
Blackberry maker Research In Motion (RIM) has announced plans to leave the consumer market as it looks to focus on corporate consumers. The news comes as the troubled company reported a loss of USD 125 million (GBP 79 million), with total revenue dropping 25 per cent on last year.