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Retail Update - October 2016

 

Posted At: 20 October 2016 16:45 PM
Related Categories: Administrations, Retail, Retailer At Risk, Retailers

 

Since our last update, bakery and catering company Peyton and Byrne has gone into administration following the loss of contracts at London’s Kew Gardens and the British Library. The bakery business has been sold as a separate entity to Peyton and Byrne Bakeries Limited, a new business owned by the Peyton family, and its five existing public catering contracts have been sold as part of a pre-packaged sale to foodservice company Sodexo.

As seen in August, September has painted an equally rosy picture on the high street:

  • Data from IMRG Capgemini’s eRetail Sales Index shows that September’s online performance topped off a strong quarter, with the Index recording the highest quarterly growth at 17% since the first quarter of 2014
     
  • According to the latest Coffer Peach Business Tracker, consumer spending on eating and drinking out continues to hold up post-Brexit, with managed pub and restaurant groups reporting collective like-for-like sales up 1.8% in September against the same month last year, with those outside the M25 reporting bigger increases than those in the capital
     
  • Consumer confidence rebounded to pre-Brexit levels in September, with GfK’s long-running Consumer Confidence Index increasing by six points this month to -1 (30/09)

In other news from the high street:

  • The UK stationery market is set to rise by 2.4% to around £2.1 billion by 2021 according to research from Verdict Retail 
     
  • Consumer confidence rebounded to pre-Brexit levels in September, with GfK’s long-running Consumer Confidence Index increasing by six points this month to -1 
     
  • The post-Brexit crash in the value of the pound means that the UK is now the cheapest market in the world for luxury goods according to research from Deloitte

And finally, Mintel predicts UK Christmas sales will rise 2.5% to £42.2bn this year but this depends on retailers’ approach to the all-important Black Friday. It will be interesting to see the strategies surrounding what has become one of the most important festive shopping dates on the calendar, something we at SnapShop, will keep you up-to-date with.

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The opinions expressed herein are the personal opinion of the author and are not intended as statements of fact and do not represent the view of SnapShop or Pragma in any way.

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