May UK Retail Briefing – 2022
£ 350 (Excl.Tax)
Description
“Households have been warned to expect the worst hit to real incomes since comparable records began 30 years ago due to rising inflationary pressures. Significantly, these pressures will affect not all households equally, with particularly lower-income consumers set to disproportionately suffer, further exacerbating the polarisation of demand seen across retail since March 2020.”
– Stephen Mayles, Research Analyst
This month’s UK Retail Briefing includes:
- Analyst Comment – Inflation will prove a major obstacle in 2022
- An overview of the latest UK Retail sales
- Sector focus – Clothing retailing
- Highlights of the latest UK Retail trend observations.
- Monthly headlines and retail news across the UK
Table of Contents
-
Analyst Comment – Inflation will prove a major obstacle in 2022
- The impact of this on the retailing landscape
- How can retailers respond to this?
- Through a focus on value
- And beyond
-
UK Retail Sales
- Key points
- Retail sales
- Figure 1: Retail sales trends, 2019-22
- BRC vs ONS
- Figure 2: UK retail sales y/y growth, BRC vs ONS, 2019-22
- Inflation and wages
- Figure 3: Real wages growth: Wages growth vs inflation, 2016-22
- Inflation
- Figure 4: Annual % change in the consumer price index for selected product groups, 2019-22
- Looking forward
-
Sector Focus – Clothing
- Clothing sales level
- Figure 5: All clothing retail sales vs online clothing retail sales 2022
- Clothing shopping takes a hit amid rising costs
- Figure 6: How COVID-19 has impacted purchasing of clothes, 2022
- Increasing interest in sustainable materials when shopping for fashion accessories
- Figure 7: Future interest in innovations within fashion accessories, 2021
- Clothing sales level
-
Launch Activity and Innovations
- UK: Lidl rolls out ‘Waste Not’ range with items from 20p
- UK: Oasis launches first rental edit
- UK: Farfetch to launch its own beauty marketplace with over 100 brands
-
Headlines for the Month
- Convenience stores
- Grocers
- Clothing retailing
- Multi-sector retailing
- Furniture retailing
- Online
- Health and beauty retailing
- Book and stationery retailing
- Jewellers
- Toy retailing
-
News Analysis – Food and Drink
- Convenience stores
- UK: McColl’s
- …issues profit warning following ‘softer’ Easter trading
- …confirms Morrisons has saved it out of administration in a pre-pack deal
- Grocers
- UK: Asda allows customers to return unwanted items from retailers in new trial
- UK: Lidl trials ‘smart’ refill station for laundry detergent
- UK: Morrisons
- …cuts prices on 500 items to help with rising inflation
- …CD&R to sell 87 petrol stations to pave way for the completion of Morrisons takeover
- UK: Sainsbury’s profits up 104%
- UK: Tesco
- …pre-tax profit soars 219.7%
- …pushes ahead with its expansion plans for its Express format
- …teams up with Uber to accelerate Whoosh rollout
- Other food specialists
- UK: Cake Box expects revenues to grow 50% for the full year
-
News Analysis – Clothing and Footwear
- Clothing retailing
- UK: Banana Republic to close UK website permanently
- UK: George at Asda teams up with Netflix
- UK: Joules reveals fashion takeback resale programme
- UK: Laura Ashley set to relaunch fashion in the UK and internationally
- UK: Next
- …sales up 21.3% driven by ecommerce
- …acquires Jojo Maman Bébé
- UK: Polo Assn reveals first UK store
- UK: Pret enters into fashion with designer scarves collaboration
- UK: Primark
- …sales grow 59% but warns it will “implement selective price increases”
- …warns of price increase
- UK: River Island introduces third-party beauty brands online
- UK: The White Company profits double thanks to demand for scented candles
- UK: Tommy Hilfiger to launch five-part podcast series
- UK: Uniqlo and Theory reveal joint Regent Street store
-
News Analysis – Mixed Goods
- Multi-sector retailing
- UK: M&S
- …lowers prices on 60 food items from Remarksable Value range
- …new rental service with Hirestreet
- UK: Pepco sees revenues grow 17.5% on the back of new store openings
- Department stores
- UK: John Lewis
- …overhaul credit and rewards card with new services
- …recruit tech talent to help develop online business
-
News Analysis – Household Goods
- Furniture retailing
- UK: IKEA to create in-store warehouses to help fulfil online orders
- Homewares retailing
- UK: Dunelm sales up 40% with ‘sustained growth across all homewares categories’
-
News Analysis – Online
- UK: Adore Me reveals new marketplace dedicated to sustainable brands
- UK: Amazon posts a net loss of $3.8 billion in Q1
- UK: AO revenues down 6% and says it will focus on cash generation
- UK: Arket adds third-party brand for the first time
- UK: Asos profits fall as supply chain challenges hit
- UK: Boohoo to launch resale platform for each of its 13 brands
- UK: Deliveroo teams up with Trussell Trust
- UK: eBay invests £1m in new programme designed to support small online businesses
- UK: Gear4Music sees sales grow 5% year-on-year
- UK: In The Style revenues up 28% thanks to influencer strategy
- UK: Made.com acquires Trouva
- UK: MusicMagpie set to launch on Back Market this month
- UK: Naked Wines sales up 5% driven by strong customer retention
- UK: Revolution Beauty sees revenues grow 42%
- UK: The Hut Group sales increase 35.1%
- UK: The Very Group to launch personalised size and fit tool across 300 fashion brands
-
News Analysis – Other Retail
- Health and beauty retailing
- UK: Boots stops selling wet wipes that contain plastic fibres
- UK: Superdrug to freeze prices on over 100 essential items to help customers
- UK: The Body Shop launch Youth Collective as part of diversity strategy
- Book and stationery retailing
- UK: Card Factory revenues up 28% as shoppers returned to stores
- UK: WHSmith back in profit as travel rebounds
- Sports and leisure goods retailing
- UK: Lululemon reveals new subscription service
- UK: Sports Direct boss warns of price rises
- Jewellers
- UK: Pandora Q1 sales up 21% and raises outlook
- Toy retailing
- UK: Hamleys launches dedicated space to gaming
-
News Analysis – Economy
- UK: BRC sees March retail sales up 3.1%
- UK: Retail sales up 4.9% in March
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