Cornel Scor’s Post

Positive news in the press today regarding retail sales for January, apparently sales value was up 3.9% and volume was up 3.4%. Sales increased in almost all sectors of retail and supermarkets thrived. While this is good news, it is really worth pointing out that it absolutely reflects the shopping habits of the British public. And it is another reminder, (you may remember my post regarding the unnecessary doom and gloom constantly reported by the media about our high streets) that in fact retail is not in decline rather that the current state of the economy, and other factors, is driving the consumer to spend differently. All I heard about Christmas sales was how awful it was that sales volume had dropped by the largest amount since the pandemic from November to December. Further reading in that report shows that in fact, sales value, the amount being spent was up 0.6% on the previous December. What this tells me is that shoppers spent more money in November during Black Friday/Cyber Monday and less on full price items in December - hence the drop. And it also shows that the amount being spent wasn't much different than the previous December, slightly up even, but they were getting less for their money. Given the spiralling cost of everything in 2023 surely that makes sense? And this was in a recession. Someone correct me if I am wrong.... Anyway, what I have said in previous posts and today I will continue to shout about as I do not think there is enough positivity in the press regarding our retail industry. Congratulations to all retailers that have "bounced back" in January and long may it continue. DCT https://lnkd.in/eGAuTMfT

Busy morning today as ONS released its monthly retail sales figures update for the festive period. December saw retail sales volumes fall by 3.2%, the biggest drop in sales for the sector since January 2021. While the festive season didn't yield the results that retailers wanted, there's still cause for optimism as we enter 2024. We've had some great coverage for EY's commentary from Silvia Rindone including The Independent and Daily Mirror. You can read Silvia's response to the figures in the below article. #tax #inflation #economy #retail #consumerproducts https://lnkd.in/e6hxBsbW

Sales in UK shops bounce back as inflation slows https://lnkd.in/enjQZiTB Sales in British shops have bounced back in May, according to retail data that suggests slowing inflation is encouraging customers to buy more. A net balance of +8% of retailers told a Confederation of British Industry (CBI) survey that sales volumes were up this month compared with the same period a year earlier – a sharp improvement on the -44% year-on-year figure for April. The balance is the difference between companies who answered that the number of items was “up” or “down”. Please click the above link for details. #FinancialPlanning

Poland’s retail sales post surprise fall in December #bne #bneEditorsPicks #bneChart #Poland #retail #macro Polish retail sales slid 2.3% year on year at constant prices in December (chart), after easing 0.3% y/y the preceding month, the statistics office GUS said on January 22. The reading is a negative surprise, as the consensus assumed an expansion of 1.7% y/y. Despite the December fall – which indicated an unusual refrain in Christmas spending – the fundamentals of a sustained recovery in consumption remain unchanged, analysts say.

In 2022, internet retail sales were down 9.8 percent in the UK, compared to the previous year. But volumes are estimated to have risen in recent months and the forecasts are that this sector will continue to grow 👇 http://ow.ly/aCHT104QTic However, we cannot deny that traditional shops are still key in terms of trust and convenience: there are still shoppers who prefer to see, touch and ask all their questions about the products they are looking for in a physical shop🛒. Is there a way to bring them together? Can you offer in your online shop the same customer service and answers that a shop assistant would give in person? The answer is: yes, you can, with Motive Commerce Search. Contact me and I'll tell you how. Or try 30 days free and see for yourself: ow.ly/ckJe104Rjfq

Retail holiday sales are expected to increase only slightly compared to previous years so many retailers have been taking measures optimize on the season. Perhaps that's the reason for the increase of Black Friday sale notifications I am getting this year? #CBREresearch #retailsales #retailinsights

UK shop prices increased at their slowest pace in nearly three years last month, new industry data has revealed. Prices across the retail sector rose by just 0.2 per cent in the year to June, compared to 0.6 per cent in May, according to the British Retail Consortium-NielsenIQ Shop Price Index.

Good news for the Irish retail industry! Official figures have shown that retail sales in Ireland rose by 1.7% in March, compared to the previous month. In addition, sales were up 1% in the year to March. This is a positive sign for the industry as it continues to recover from the impact of the pandemic. Let's hope this trend continues and we see even more growth in the coming months. #IrishRetail #RetailSales #Economy #PositiveNews

Retail sales in the UK experienced a sharp decline of 3.2% in December, marking the steepest drop since the country was in a Covid lockdown. Official figures from the Office for National Statistics (ONS) revealed a notable fall in demand for goods and food, with non-food product purchases dropping by 3.9%, contrasting with a 2.7% increase in November. The decline in retail sales in December was the largest since January 2021, attributed to shoppers shopping earlier in November, taking advantage of Black Friday sales. The unexpected retail sales slump raises concerns about the possibility of the UK entering a mild recession, reflecting ongoing challenges such as the cost-of-living crisis and rising interest rates impacting real incomes and consumer spending. Despite this, some retailers, like Majestic Wine, reported record sales in the run-up to Christmas, while overall economic recovery remains uncertain. https://lnkd.in/e_cuqcGG Follow Retail Savvy on LinkedIn: https://lnkd.in/etXuWN48 #RetailSales #UKEconomy #ConsumerSpending #RetailSavvy #SavvyInsights

“UK retail sales stalled unexpectedly in March after price-conscious shoppers scaled back spending on food and at department stores.” “The volume of goods sold in stores and online was unchanged in March after a revised 0.1% gain the month before, the Office for National Statistics said on Friday. Economists had expected an 0.3% increase.” “The figures add to evidence of a lackluster recovery from last year’s recession. Consumers are still suffering from a cost-of-living crisis that forced them to pay more for the same amount of goods. While wages are rising rapidly and the Bank of England is expected to reduce interest rates, those forces have yet to fully feed through to people’s finances.” “The pound was little changed after the data, holding on an earlier drop of 0.3% to $1.2405. Traders added to bets on interest rate cuts later this year and have fully priced in the first quarter-point reduction from the BOE in September.” “Retail sales grew 1.9% in the first quarter, meaning the sector contributed 0.09 percentage point GDP during the period, the ONS said. The economy as a whole is expected to have expanded 0.2%, according to the median of forecasts in a Bloomberg survey.” “Fuel sales provided a lift for the weak figures. Excluding auto fuel, overall sales fell 0.3% in March, erasing a gain of the same size the month before.” ““Large ticket items like furniture continued to sell badly as consumer spend remains restrained by the high cost of living,” said Kris Hamer, director of insight at the British Retail Consortium. “Footwear sales were impacted by the poor weather.”” ““Consumer confidence remains fragile, and households continue to keep a close eye on where their tight budgets are being spent,” Linda Ellett, head of consumer markets, leisure & retail at KPMG UK, said in a statement released by the British Retail Consortium last week.” - Isabella Ward