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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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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 FSP in any way.

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