Retail Update - September 2017

Posted At: 20 September 2017 15:26 PM
Related Categories: Retail, Retail Statistics, Retailers

FSP’s SnapShop brings you a snapshot of the UK retail environment for the past month:

• Young fashion brand Rare London ceased trading in August following the appointment of administrators
• August retail sales smashed expectations, with overall growth of 1% between July and August according to the ONS – well above the consensus forecast of 0.2%
• According to the IMRG Capgemini Online Retail Sales Index, UK online sales grew by 16.4% in August. Average basket values were the highest seen in August for five years, reaching £130
• Latest research by GlobalData predicts that clothing and footwear will drive 35% growth in the UK online market, to reach £69bn by 2022. Mobile spend is also expected to jump 112% in the next five years
• Second-hand retail is on the rise. According to Ibis World the second-hand market accounts for around 14% of London’s retail establishments, and sales volumes across the industry grew over 5% last year
• GfK’s Consumer Confidence Index rose two points in August, compared to the July’s one-year low
• Latest figures from The Department for International Trade reveal that UK fashion exports rose to a record £10.7bn in 2016, with an 8% rise in exports of footwear, clothing and textiles compared with the previous year. The US, Hong Kong and Australia in particular snapped up more than £1bn in UK exports

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