SnapShop Retailer Directory Search

You are here: Home | Blog | Retail Update - April 2017

SnapShop Blog

Retail Update - April 2017


Posted At: 26 April 2017 10:20 AM
Related Categories: Administrations, Retail, Retailers


March saw three high profile retailers hit the buffers:

  • Agent Provocateur – subsequently bought by Four Marketing through a pre-pack deal
  • Brantano
  • Jones Bootmaker – the majority of its business was subsequently sold to private equity Endless, which acquired 72 stores as part of the deal

According to insolvency firm Begbie Traynor, almost 23,000 retailers reported significant financial stress in the first three months of 2017 as cost pressures continue to mount. Further administrations have been predicted by the firm, which has reported a 4% rise in retailers under financial strain compared to the same period last year.

The ramifications of the business rates reforms, announced last month, have yet to be fully felt in the industry. Mixed with increased price competition, a weak pound, dwindling consumer spending and a rise in minimum wages, analysts expect a 'large number' of retailers to fail in the coming months.

However, it is not all doom and gloom on the high street.

A record number of overseas tourists travelled to Britain during the first two months of 2017, up 6% on the same period last year, according to new figures published by VisitBritain. The 5.2 million visits also resulted in a record spend of £2.7b in January and February, a year-on-year increase of 11%.

London’s luxury market was also boosted by a momentous return of Russian visitors and Americans’ surge in interest for British luxury in the first quarter of the year. International tax free shopping data for London Luxury Quarter, which covers Mayfair, St James’s and Piccadilly, showed growth of 39% in the period. In addition, Russian visitors’ tax free shopping spend rose by 88% in March while American spend grew by 116% year-on-year.

Online continues on its steady upward trajectory, with UK shoppers spending £1bn a week online in March - 19.5% more than they did in the same month last year. That total accounts for 15.5% of all retail spending, excluding fuel, during the month, and contrasts with 13.6% a year ago, according to the Office for National Statistics’ Retail Sales report for March 2017. However, consumers are getting harder to please when it comes to online shopping (see FSP View).

It will be interesting to see what the next few months have in store for retail and consumers, as we head towards a general election. Whatever happens, SnapShop will keep you up to date with the latest news.

Comments Comments (0) Twitter Twitter


There are no comments for this entry.

Add a Comment:

Please Note: Comment moderation is enabled. Your comment will not appear until approved. Although we ask for your email address for verification purposes, only the name you enter will show against your comment.

Name *
Email Address *  
Comments *
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.


Enter your email address below
to receive SnapShop blogs
straight to your inbox.

Blog Roll:

Hurlbut & Associates
Insight-Driven Retail Blog
James Hall, Telegraph
Marketing Cloud Blog
Retail Consultancy Blog
Retail Contrarian
Retail Technology Blog
Retail Week Comment
Spotlight on German Retail

Archives By Category:

Administrations (71)
And Finally (22)
Christmas (5)
Co-operative Retail (1)
Environmental (6)
E-tailing (13)
Finance & Investment Management (3)
FSP News (4)
Future of Retailing (24)
General (63)
Jane Norman (1)
Media (4)
Retail (137)
Retail Marketing (3)
Retail Property (12)
Retail Statistics (40)
Retail Suppliers (8)
Retailer At Risk (6)
Retailers (193)
SnapShop Developments (3)
Social Commentary (34)
Store Closures (22)
Town & Shopping Centre Management (14)
Womenswear Retailer (3)

Recent Entries:

Retailer View - Weird Fish
Retailer View - Monki
Retailer View - Boden
Retailer View - The Entertainer
Retail Update - November 2018

Recent Comments:

Retail Spotlight – The changing face of leisure
Really interesting sector changes you've highlighted. We have also noticed a sharp rise in the 24 ho... more
Cost of Cash Set to Rise
We have seen growing investment amongst retail clients wanting to get ahead of this trend. it will ... more
And Finally - Surreal
Does my app look big in this, hehe, got to try the Ann Summe... more
Who's next?
Thanks Dave. Sports Direct International has very strong leadership and its accounts have been recor... more
Who's next?
Interesting stuff, it doesn't look like long before they will go under. Any ideas on why sports dire... more
Twitter LinkedIn
Privacy PolicyTerms of Use

Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how customers use our website.
Our site won't work without them. By continuing to use our website you accept our use of cookies. Find out more about cookies. ×