Retail Update - November 2015

Posted At: 20 November 2015 16:30 PM
Related Categories: Administrations, Retail, Retailers

October has been a fairly quiet month in terms of administrations, with the exception of Garage Shoes which underwent a pre-pack administration saving jobs and stores.

Not surprisingly much talk recently has been about the impending Black Friday next week and what retailers plan to do with it. See FSP View for our thoughts on this particular shopping day.

The general feeling this month is that things are improving on the high street and throughout the country. The British Retail Consortium is predicting that festive sales will see a healthy growth compared to last year. It’s not just the UK that is seeing an upturn, Retail Ireland is forecasting that Irish retailers will have their best Christmas in seven years following an increase in consumer sentiment.

Consumer confidence has remained in positive territory throughout 2015 in contrast to the loss reached between mid-2007 and early 2014 when the recession was at its height. It will be interesting to see if it remains this way in the run-up to Christmas and in the New Year.

The eating and drinking out market seems on a never-ending course of growth. Collective sales for managed pub and restaurant chains were 2.5% up against October 2014. This level of growth is perhaps unsurprising given the recent JLL report that reveals F&B operators have doubled the amount of floorspace they take in shopping centres over the last ten years. 

The plans to relax Sunday trading laws could be knocked off course by the Scottish National Party who intend to vote against them over fears it could drive down wages in Scotland. Not everyone is on board with the plans, both retailers and members of parliament, although from the press it seems like the government is keen to pursue this. 

It has been interesting to read that the Healthy High Streets scheme, which launched last year and is backed by a group of the high streets’ leading retailers, has been deemed a success in its first year. Perhaps lessons can be learned from the initiatives implemented and introduced in other areas to help revive further ailing high streets.

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