UK shoppers turn to discount stores and second-hand shops amid cost of living crisis
UK retail sales rose in February as consumers' confidence reached a one-year high while US market struggles amid banking moves and monetary tightening.
More people are taking advantage of Buy Now Pay Later services
Recent data from Adobe Analytics shows the growth in the demand for online home furnishing and groceries shopping, by shoppers leveraging on Buy Now Pay Later.
Crisis in agricultural goods' availability as snow storm hits the UK in March
The shortage in agricultural goods impacting the UK is drifting to a harsh scenario as a result of the weather condition and supermarkets' policies in attaining supply.
London fears losing luxury shoppers to Paris and Milan
London's luxury retailers fear the city is losing its pull as a shopping destination, with tourists from the United States, China and the Gulf flocking instead to Paris and Milan where tax breaks still offer a way to cut the cost of their purchases.
More news
Chief Growth Officer at CI&T believes technology is key to the fruit and vegetable shortages
The UK faces fruit and vegetable shortages up until May. However, experts like the Chief Growth Officer at CI&T are convinced that technology could be the answer to the UK's farming issues.
Supply chain expert urges UK retailers to utilise modern technology solutions amid weather crisis
Vice President of Product Marketing, e2open, urges UK retailers to utilise modern technology solutions for logistics management amidst weather crisis.
Rebecca Crook admits that 'times are tough for retailers' despite 0.5% retail sales growth
The Chief Growth Officer of CI&T stressed that it is crucial for retailers to up their game to survive this period, as consumers are engaging in prudent buying.
Inflation will add £18 billion to UK non-food retail sales in 2023
Research from Metapack, ShipStation and Retail Economics reveals consumers tend to pay more for less, with inflation adding £18.2 billion to UK non-food sales, regardless of the decline in volumes by 4.9%.
Shopify's revenue forecast fails to impress, shares fall
Shopify Inc on Wednesday forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signaling that macroeconomic challenges were weighing on its merchants' online businesses.
Retailers should focus on scalable internet connectivity, claims major network company
High-quality internet connectivity is crucial to providing consumers with the best possible experience, according to a network service provider.
Shoppers to face fresh price hikes as stores, suppliers pass on costs
Shoppers around the world will pay even more for groceries this year than they did in 2022, according to retailers, consumer goods firms and investors, unless commodity costs decline or the shift to cheaper store-brand products accelerates.
How e-commerce is changing the face of traditional commerce in the UK
Electronic commerce is gradually replacing physical stores in the British economy. However, brick-to-mortar stores are still strong pillars of UK business.
Amazon's outlook disappoints as customer budgets stay tight
Amazon.com Inc on Thursday said its operating profit could fall to zero in the current quarter as savings from layoffs do not make up for the financial impact of consumers and cloud customers clamping down on spending.
Luxury group LVMH's sales defy downturn as shoppers splurge
Luxury goods group LVMH's sales rose 9% in the fourth quarter as shoppers in Europe and the United States splurged over the crucial holiday season, helping to partly offset COVID disruptions in China.
Generation Z finding time for second-hand luxury watches
Swiss watch exports hit a new record in 2022, climbing 11.4 percent year-on-year to 24.8 billion Swiss francs.
Luxury giants bank on Chinese return as Western shoppers sober up
The focus of the luxury industry is shifting back to China, with hopes that its high-end spenders will once again splurge on designer goods during Lunar New Year festivities as Beijing relaxes COVID curbs after three long years.
Exploring the UK Fashion supply chain crisis
Fashion supply chain characterised by short product life cycle and high volatility as demand in fast-paced industry remain unpredictable since Covid-19.
Nordstrom cuts annual profit outlook as off-price rack sales fall
Nordstrom Inc slashed its annual profit forecast after heavy discounting failed to sway people shopping at its off-price Rack stores, leading to weak holiday sales and pushing its shares down 6% in after-hours trading on Thursday.
Richemont, Burberry optimistic about China luxury sales
Luxury retailers Richemont and Burberry said they were optimistic that consumers in China would start spending again, helping offset three years of upheaval from the government's strict COVID-19 lockdowns and soaring infections.
- MOST READ IN Retail
- 1
- 2
- 3
- 4
- 5
