Shoppers are likely to keep their spending on pause during the first months of 2024, according to forecasts published today by the Retail Think Tank, a group of industry experts who analyze the health of the sector, as mortgage and rental costs weigh on consumer confidence.
“ It is going to get worse,” said Paul Martin, the UK head of retail at the advisory firm KPMG.
While demand could pick up in the spring by then retailers are expected to face a financial squeeze – particularly those trading solely online in the hard-hit fashion sector or without strong financial backing – as the April rise in the minimum wage and a 6.7% business rate increase for most retailers kick in.
“There will be pressure on consolidation,” the think tank concluded – suggesting that buy-out deals and mergers would be on the cards.
Esta historia es de la edición December 18, 2023 de The Guardian.
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Esta historia es de la edición December 18, 2023 de The Guardian.
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