Retail Economics news and archive

Shoppers to spend two billion pounds on secondhand gifts this Christmas

The secondhand market has already taken precedence over consumer priorities in recent years, and it seems that even into the festive season, the sector will continue to enjoy a favourable environment. In fact, according to new research by Vinted and Retail Economics, UK consumers are expected to spend over two billion pounds on secondhand gifts...

Business

Report: British retail exports to EU fell six billion pounds post-Brexit

New research has shown that international sales to the EU by British brands and retailers have fallen by 5.9 billion pounds since the introduction of Brexit, with uneven impact seen across categories. Among non-food exports, Clothing & Footwear has been one of the most impacted categories, with exports declining from 7.4 billion pounds in 2019...

BusinessFeatured

UK high street faces fashion sales black hole without reform, research says

The UK’s high street fashion stores face 14.5 billion pounds in lost sales by 2025 due to a “dramatic shift” in consumer spending during the pandemic if changes are not made, according to new research. The pandemic has brought forward by three years the date when the UK’s online sales are expected to overtake in-store sales, according to...

Retail

UK fashion retailers face billions in SS20 stock write-offs

UK clothing retailers are facing an enormous amount of SS20 write-offs as physical stores remain closed and warehouses fail to shift stock. The British fashion market is worth around 55 billion pounds a year in sales, with 80 percent of that coming from physical stores and the remaining 20 percent from online. According to the Times, the three...