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Retail Update - May 2018

 

Posted At: 30 May 2018 00:53 AM
Related Categories: General, Retailers

 

Much like last month, the retail world is still rather gloomy. Insolvencies in the retail industry show no sign of slowing with a 7% year-on-year increase, although the number of CVAs has decreased by more than half over the last five years.

However, there is some better or interesting news if you look hard enough for it.

  • New figures suggest British customers are collectively spending upwards of £2bn a year on regular deliveries of goods from snacks and drinks to beauty products highlight the growing importance of subscription services to the UK retail market
  • MPs are to investigate how to revive the British high street as part of a cross-party parliamentary inquiry. The Housing, Communities and Local Government Committee will examine the future role of the high street in contributing to local economies, what the high street will look like in 2030 and if councils have the correct planning and licensing tools to help areas flourish
  • CompareTheMarket is moving into the restaurant sector with a reward scheme powered by discount dining platform Tastecard. Meerkat Meals will launch in July, and – like Tastecard – will offer two-for-one meals at major UK chains
  • The latest Deltic Night Index shows consumer spending on late-night leisure has risen 6.9% year-on-year to £59.40. The Index revealed that 56.4% of British consumers are going on a night out at least once a week – up from 54.5% this time last year. This figure rises to almost 70% among 18 to 30-year olds (69.3%)
  • According to CBRE, London is the most-targeted European city for retailers looking to expand overseas. The research found that 49 new retail entrants debuted in London in 2017, putting it fourth globally behind Hong Kong, Dubai and Taipei
  • Research has revealed that British consumers spend more than £10,000 on lunch meal deals in their working lifetime, with a third buying a lunchtime meal deal twice a week, and 14% buying one more than three times a week
  • Primark is poised to take the title of the UK’s top clothing retailer from M&S. M&S has held the highest percentage of the country’s clothing market for over two decades but has been steadily losing market share to rivals since 1997. According to Globaldata, M&S’s market share peaked in 1997 at 13.5%, and has since nearly halved to an estimated 7.6%. Primark has seen exponential growth, rising from 4.7% in 2008, to an estimated 7% in 2018, hot on the heels of M&S
  • Online sales grew by 11.7% in April, compared to the same time last year, and accounted for 17.3% of all retail sales, according to the ONS. But ecommerce sales were down by 0.4% compared to March in which online sales grew more strongly than the trend, but store visits fell amid snowstorms

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