Author: Scott Dylan

Rising inflation is expected to impact household spending this Christmas, as indicated by recent data.According to the latest Income Tracker by a major UK supermarket, the cost of living has led to a significant decrease in disposable income for households. Specifically, October saw a decline of £1.98, leaving the average family with £247 per week. This change marks only the second decrease recorded this year and is attributed primarily to a 2.3% inflation increase driven by rising energy costs.The Centre for Economics and Business Research (Cebr) anticipates that this trend will continue to affect consumer behaviour over the festive season.…

Monzo’s co-founder, Tom Blomfield, has expressed strong disapproval of competition regulators amid calls to dismantle Google’s web presence.Blomfield described regulatory bodies as ‘religious zealots’, criticising their intervention in market dynamics.The tech entrepreneur defended Google’s dominance, emphasising the consumer benefits of their products.Recent proposals by the US Department of Justice to make Google sell Chrome sparked Blomfield’s outspoken response.The UK’s Competition and Markets Authority has also scrutinised Google and even Monzo in past investigations.Tom Blomfield, known for his role in establishing the online bank Monzo, has not held back in his criticism of competition regulators. He used social media to voice…

Allplants, a known figure in the plant-based meal market, has entered administration, resulting in 65 redundancies among its staff. This development highlights the significant pressures facing businesses within the sector.Founded in 2016, Allplants quickly established itself with an omnichannel presence, distributing plant-based meals both online and through over 100 retail outlets. Despite these broad connections, the company has not been immune to the economic difficulties plaguing the industry.The recent appointment of Will Wright and Howard Smith from Interpath as joint administrators comes at a time when Allplants is grappling with increased operational costs and declining consumer confidence amidst an ongoing…

The British Retail Consortium (BRC) is calling for public support against rising retail worker abuse this Christmas.Incidents of threats, physical assaults, and racial abuse against retail staff have increased to 1,300 daily.Delivery drivers face heightened risks during the festive season, necessitating safety measures such as personal safety devices.BRC urges the government to introduce a standalone offence for assaulting retail workers promptly.Industry fears government policies on National Insurance may lead to job losses and price hikes.The British Retail Consortium has issued an urgent appeal to the public, advocating for a stand against the escalating abuse faced by retail workers during the…

The British Retail Consortium (BRC) is urging collective action to combat the rising violence against retail workers this Christmas.Incidents of abuse and violence towards retail staff have escalated to 1,300 each day, including threats with weapons and racial slurs.Delivery drivers face increased risk during this busy period, being equipped with personal safety devices to enhance their protection.The BRC is pressing the government to expedite a law making assault and abuse of retail staff a standalone offence.Warnings have been issued about potential job losses and store closures due to an increase in National Insurance.As the festive season approaches, the British Retail…

Boohoo has successfully obtained approval from lenders for its fundraising initiative.The company aims to raise £39.3m through a share issue to support its turnaround strategy.Boohoo reported a pre-tax loss of £147.3m for the six months ending 31 August 2024.Frasers Group, holding a 28.1% stake, is challenging the current board leadership.Executive Chairman Mahmud Kamani faces potential replacement following shareholder pressure.Boohoo has successfully obtained approval from its lenders to proceed with a fundraising initiative. This move is part of the company’s efforts to establish a substantial financial base aimed at enhancing shareholder value. The fashion giant plans to raise up to £39.3…

Zara inaugurates a significant 51,000sq ft flagship store in Birmingham, enhancing its retail footprint.The store replaces the former Debenhams in Bullring & Grand Central, aligning with Zara’s strategy of larger retail spaces.Zara’s new outlet offers a comprehensive range of fashion with a focus on technology-driven customer experiences.This opening follows recent launches of other Inditex brands and popular stores at the shopping centre.The expansion coincides with Inditex’s strong financial performance despite external challenges.Zara has unveiled an expansive 51,000 square foot store at Birmingham’s Bullring & Grand Central, marking a noteworthy transformation of the site previously occupied by Debenhams. This move is…

Significant reductions in carbon emissions have been achieved by Primark as they transition to renewable energy sources. This is a noteworthy achievement for the high street retailer. Here are the key points highlighting their progress in sustainability.Primark’s annual report for Sustainability and Ethics shows an 11.6% reduction in carbon emissions for the year ending 31 July 2024.The reduction in emissions is primarily due to a 21% decrease in Scope 1 and 2 emissions, stemming from increased use of renewable energy and biofuel in logistics.Primark made significant advancements in recycled and circular textiles, with 66% of its clothing now comprising recycled…

UK shoppers are shifting towards secondhand gifting this Christmas, with expenditures expected to exceed £2 billion.This trend sees secondhand gifts making up over 10% of the total UK Christmas gift market, particularly among younger shoppers.Cost savings and environmental concerns are the main motivators for purchasing pre-loved items.Vinted’s verification service is enhancing consumer confidence in buying secondhand luxury items.Economists predict continued growth in the popularity of secondhand shopping as accessibility increases.In a notable shift this festive season, UK shoppers are projected to spend more than £2 billion on secondhand gifts. This movement highlights a growing preference for pre-loved items, representing over…

The British Retail Consortium (BRC) has issued a call to action for the public to unite against the escalating violence and abuse toward retail workers as the festive season approaches. Recent findings from the BRC’s crime survey reveal an alarming surge in such incidents, with reported cases soaring to 1,300 daily.The BRC’s survey highlights a concerning rise in violence and abuse faced by retail workers, including threats involving weapons, physical assaults, and racial slurs. This surge has prompted calls for action from retailers and government officials alike. With delivery drivers experiencing heightened abuse and facing an even busier season, measures…