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Statistics for December look promising with overall shop price inflation remaining at 1.5% for the third consecutive month according to the BRC Nielsen Shop Price Index. BRC’s Retail Sales Monitor showed a 1.5% increase in spending in December compared to the prior year. Designer outlet Cheshire Oaks reported Boxing Day 2012 was its best day of trading in its 18-year history.
December’s online sales rose 17.5% with the sector forecast to grow a further 12% during 2013 according to the IMRG Capgemini Index. UK shop vacancy rates dropped by 0.1% in November according to the Local Data Company. Shopping centres including Westfield London, Westfield Stratford and thecentre:MK all saw significantly increased footfall over the Christmas trading period reflecting an increase in consumer confidence.
Westfield and Hammerson have finally settled their long-standing Croydon dispute, agreeing to collaborate on the scheme.
Three administrations have been reported since the beginning of 2013, following in Comet’s footsteps. Jessops failed to generate the profits it required to viably continue trading and has resulted in all 192 UK stores being closed. HMV was placed into administration after talks with its lenders failed to reach a successful outcome. A number of potential buyers have registered their interest in the chain and all stores continue to trade while a buyer is sough. Blockbuster appointed Deloitte as administrator after increased competition from internet-based providers impacted its trading. Its core business is still profitable and it will continue trading while a buyer is sought.
In news relating to UK market entrants, H&M will debut its &Other Stories concept on London’s Regent Street in the spring, Saffran will open its debut UK outlet at Manchester’s Trafford Centre, Greek jeweller Li-La-Lo opened its debut store in December at Westfield London and Microsoft is looking to open high street stores in the UK in a bid to take on Apple.
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