With the health of the retail sector steadily decreasing over the last two years, and the uncertainty of a Brexit (no-)deal just around the corner, the RTT discussed just how crucial this coming period was for retailers.
A mere glance at news headlines will paint a rather gloomy and oppressive picture of the health of the UK retail sector currently. But just how bad is 2018 likely to get, and is there light at the end of the tunnel?
These were the principal questions the KPMG/Ipsos Retail Think Tank (RTT) set to tackle when they met in mid-April 2018.
The UK’s retail industry will flatline at best in 2018, according to the latest predictions from the KPMG/Ipsos Retail Think Tank (RTT).
• Very limited retail growth in 2017, as any growth in non-discretionary retail will be clawed back by a decline in discretionary spend • On average 5 – 8% increase in retail prices in 2017, albeit varying across categories of retail • In light of increasing commercial headwinds, more retailers will leverage technology, consider multichannel…
Consumer confidence indices never tell the whole story, but they do provide insight into shoppers’ mind-set, particularly when viewed as a trend over time There is a strong correlation between consumer confidence and consumer spending, however shock events like the Brexit vote can result in divergence between the two data sets Consumer confidence indices should…
In the immediate aftermath of the Brexit vote, political uncertainty had led to a dampening of consumer confidence In the medium-term, as currency hedging unwinds, the cost of goods purchased overseas will effectively become more expensive. The debate for retailers will then be whether to increase prices or absorb the loss into margins In the…