In keeping with a current survey by BRC, British shoppers proceed to spend cautiously amid rising Brexit uncertainties. Total retail spending saw
In keeping with a current survey by BRC, British shoppers proceed to spend cautiously amid rising Brexit uncertainties. Total retail spending saw a 0.6% rise during October, rising on the strongest tempo since April’s Easter vacation purchasing.
Nonetheless, the long-term outlook for retail spending nonetheless stays weak, with common progress in retail sales anticipated at +0.1% over the subsequent 12 months. In keeping with BRC’s chief government Helen Dickinson, the current selections to delay Brexit and power early elections are anticipated to extend nervousness amongst shoppers in Britain.
One other non-public survey by Barclaycard additionally reveals an identical bleak outlook for the retail sector in Britain. This survey reveals that client spending grew at a price of 1.5% in October YoY, coming in decrease than the 1.6% progress seen in September. The stockpiling impact which had beforehand lent a lift to the retail sector additionally seems to be fading, with solely 17% shoppers indicating that they’d stockpiled in preparation for the earlier Brexit deadline of October 31.