The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
LONDON, United Kingdom — Britain's retailers enjoyed their strongest monthly sales growth for 14 months in November, helped by a return to growth in the fashion sector for the first time since January, industry data showed on Saturday.
UK high street sales rose 1.7 percent year-on-year in November, according to BDO, the accountancy and business advisory firm.
Like-for-like growth in the fashion sector was 1.5 percent, it said.
Robust growth in consumer spending has been one of the main things sustaining Britain's economy since June's vote to leave the European Union. But many retailers expect to have to raise prices next year, probably squeezing consumer demand.
ADVERTISEMENT
“Consumer spending may appear to be robust for now as many people are having a final shopping spree while the economy is exceeding growth expectations," Sophie Michael, head of retail and wholesale at BDO, said.
"[But] the challenges facing retailers continue to mount, which will inevitably impact on retailers’ costs and consumers’ disposable income and the question is ‘when’ not ‘if’ the spending squeeze will come."
The BDO data contrasts with more subdued numbers from the British Retail Consortium, published on December 6 — a disparity which may be partly explained by the slightly longer period of the BDO data.
By James Davey; editor: Jane Merriman.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.
The company has continued to struggle with growing “at scale” and issued a warning in February that revenue may not start increasing again until the fourth quarter.