Author: Bekki Ellis, 16 November 2017

FSP’s SnapShop brings you a snapshot of the UK retail environment for the last month.

  1. A number of new retailers were reported to be looking to enter the UK market; FSP clients can keep up with these new entrants on SnapShop as things progress
  2. Just For Pets was bought out of administration by Pedigree Wholesale and Greenwoods was also rescued from administration by recently incorporated company Versatile International Trading. However, BCBG was ordered to cease all of its European operations by the end of the month following the bankruptcy of its US parent
  3. The physical entertainment market returned to growth for the first time since August 2014. Figures from Kantar Worldpanel show that the market grew 2.2% year-on-year, driven by a 26% surge in games sales which offset declines of 5.4% and 4.8% in music and video respectively
  4. Consumer confidence slipped in October to -10, down from -9 in September, as the economic outlook remains uncertain and shoppers failed to show signs of ‘get-up-and-go’, according to GfK’s Consumer Confidence Index
  5. Criteo’s The Shopper Story 2017 report reveals that the UK is a nation of 'omnishoppers', with 83% buying both online and offline. This is matched by the US (also 83%), and followed by Brazil (79%), France and Japan (both 78%)
  6. A new online platform which seeks to cut out grocery stores and take on Amazon, by allowing manufacturers to sell directly to shoppers at significantly lower prices, is hoping to launch in the UK late next year

7. Storms left a major dent on high street footfall rates, with the latest monthly Retail Traffic Index from Ipsos Retail Performance showing that UK footfall slumped 9.1% in October compared to the same period last year

8. Plans to pedestrianise the western section of Oxford Street, W1, have been launched for consultation by Transport for London and the Mayor’s Office. Subject to the public response, a stretch between Orchard Street and Oxford Circus could be traffic-free by December 2018

9. Consumers continue to spend on pubs and restaurants. New figures from Barclaycard showed that spending in pubs and restaurants grew by 10.2% and 11.8% respectively in October, compared to last year

10. Bluewater shopping centre has launched a trial for its own transactional website

11. With Christmas just around the corner, retailers are launching their festive ads, as advertising agencies are expected to rake in a record £6bn over the Christmas period

12. Global Data predicts that UK shoppers are poised to spend £10bn over the Black Friday period this year, rising 3.8% year-on-year thanks to higher prices and an increase in the number of retailers taking part

13. And finally, London’s New Bond Street has overtaken the Champs Élysées to rank in the top three most expensive streets in the world. A survey by Cushman & Wakefield found that rents at the street have increased by 37.5% in sterling this year compared with 2016, to £1,312 per sq. ft. 

Post a comment

Keep Calm and Carry On (Sustainably)

While it is easy to point the finger of blame towards inefficient occupiers, greedy landlords or opportunistic accountants, to do so focusses on the symptoms rather than the cause.

Continue Reading

How to future proof the high street

“Difficult trading conditions” is synonymous with most retail-led news stories right now. Store closures from Mothercare to House of Fraser, subsequent job losses and administrations have become every day events...

Continue Reading

FSP View - Focusing on the customer

With the ongoing CVAs in the retail world causing huge issues for property landlords and investors, FSP looks at how putting the the consumer at the heart of the decision making process could be of benefit.

Continue Reading