UK footfall’s post-pandemic recovery took a hit last week as concerns over rising prices and worries over an impending recession deepened. There were negative numbers (almost) everywhere for the 8-14 May period.
UK Retail sales volumes fell by 1.4% in March 2022 following a fall of 0.5% in February, the Office for National Statistics said on Friday. That said, sales volumes were 2.2% above their pre-Covid February 2020 levels.
Booming online shopping, with the addition of Covid and Brexit, means demand for UK warehousing and transport systems has increased by 88% over the past decade and is 21% higher than in 2019, a new report claims.
The UK’s economy grew 0.1% in February, official figures showed on Monday, and while that growth had slowed from January’s +0.8%, there was a crumb of good news for retail as it seems that tourists are returning.
Britain’s optimism has taken a severe beating as the reality of rising costs hit home. Consumer confidence in March plummeted almost 30 points to -20, the quickest rate of decline since 2008's global financial crisis.