SnapShop Retailer Directory Search

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

SnapShop Blog

Retail Update - June 2017


Posted At: 16 June 2017 11:39 AM
Related Categories: Administrations, Retail, Retail Statistics, Retailers


May was a month of change on the high street. German womenswear brand Basler fell into administration; Joy was bought out of administration by its owners in a pre-pack deal; and Edinburgh Woollen Mill acquired the Jaeger name. Additionally, Edinburgh Woollen Mill embarked on a new department store concept, Days, which launched in a former BHS store in Carmarthen.

Household spending growth slowed in May as British shoppers selectively cut back purchases, as the rise of inflation threatens living standards. According to Barclaycard figures, spending was up 2.8% on the year, which marked the slowest rate of growth since last July. The British Retail Consortium’s (BRC) study of shops’ sales found growth slowed to 0.2% on the year, a substantial slowdown from the strong Easter spending in April.

The BRC’s Online Retail Sales Monitor also found that e-commerce sales grew at their slowest rate for more than four years in May. Online sales of non-food products grew by 4.3% in May – down from 13.7% a year earlier and at its lowest level since the BRC analysis started in December 2012. The three-month average stands at 7% – also the lowest the BRC report has yet recorded.

This slow-down both online and on the high street in May could have been the result of a pre-election and pre-Brexit blip. However, according to the long-running and closely-watched GfK Consumer Confidence Index, consumers’ confidence in May stood at -5, two points up compared to -7 in April, suggesting that this isn’t the case.

Interestingly, Payments UK – the trade association for the payments industry – has forecast that debit cards will overtake cash as Britain’s most frequently used method of payment by 2018 thanks to the rise in contactless cards. Worldpay, which handles 40% of all UK card transactions, said that spending on all forms of contactless systems now accounts for 28% of all non-cash transactions in the UK, with total spend exceeding £10b for the year in 2016.

However, the Bank of England’s chief cashier and director of notes has said cash payments were “very much alive and kicking” and that contactless and electronic payments were not a threat. Victoria Cleland highlighted how technology has had a “huge impact”, with ways to pay including digital currencies, mobile payments and innovations such as contactless cards gaining “real traction”. But contrary to predictions of the eventual death of cash, Cleland said “if we dig further, it is clear that cash is very much alive and kicking”.

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. ×