SHOPS BRACED FOR COST OF LIVING CRISIS
RETAILERS face a “storm ahead” as shoppers are hit by a cost of living crisis, a trade body has warned.
The British Retail Consortium said the industry was braced for “significant headwinds” as customers are battered by soaring inflation, an energy bill shock and April’s national insurance increase.
Helen Dickinson, BRC director general, said: “It will take continued agility and resilience if retailers are to battle the storm ahead, while also tackling issues from labour shortages to rising transport and logistics costs.”
It comes as figures out today show households curtailed their spending last month.
Payments giant Barclaycard said spending was still up 12.2 per cent in December compared to 2019, before the Covid crisis first struck.
But the amount spent on what are classed non-essential items increased at
Money will be tight
THE world’s super-rich steered clear of the Covid crisis if record sales of Rolls-Royce luxury cars are anything to go by.
While many ordinary families saw their finances battered by the pandemic, the famous car marque had its best-ever year.
Rolls-Royce yesterday announced it sold 5586 cars in 2021, up a bumper 49 a slower rate of 11.5 per cent, down from November’s 18.3 per cent. Barclaycard said it could be due to some people starting their Christmas shopping in November, but also avoiding the high street because of Omicron concerns. BRC data showed retail sales jumped nearly 10 per cent over the whole of last year. Food sales rose 3.1 per cent, with all other products up 15.6 per cent. A report yesterday revealed shopper footfall – the number of people out and about – fell six per cent last week. The renewed advice to work from home was cited as one reason. Footfall in central London slumped 25.6 per cent last week, with local high streets seeing only a modest decline, according to report authors Springboard. Meanwhile, discount supermarket Aldi hailed its “best ever” Christmas after a 0.4 per cent rise in December sales. per cent on 2020 and the highest annual total in its 117-year history. Record demand came from China, other parts of Asia and America. Rolls-Royce, part of German giant BMW, said growth was fuelled by the popularity of its £233,000 Ghost model, pictured, with the £258,000 Black Badge variant added in October.
Mexican-themed restaurant chain Tortilla said sales surged 79 per cent last year, boosted by demand for deliveries during the Covid lockdowns. down 40.0 at 7445.2
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Oil
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