This is the best summary I could come up with:
Retailers are facing a tough new year as weak consumer demand is expected to combine with a barrage of increased costs, including the higher minimum wage.
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 analyse the health of the sector, as mounting mortgage and rental costs weigh on consumer confidence.
Clothing sales have been particularly hard hit amid relatively warm weather, and shoppers have held back from making expensive purchases such as furniture or big electrical goods.
Nick Bubb, the independent retail analyst who also sits on the panel, said: “The final quarter of 2023 saw a lacklustre performance with volume pressure in non-food categories and the real sense that consumers are tightening their belts.
The Bank of England’s announcement that interest rates will remain at an elevated level will not bring comfort for those coming to the end of mortgage deals, car finance agreements or needing a loan, while gloom around the ailing economy could undermine employment confidence and opportunities.
“Despite further falls in inflation and, from the middle of the year, the Bank of England potentially starting to reduce interest rates, we expect the UK economy will struggle to gain momentum in 2024.
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Fake4000@lemmy.world 11 months ago
I’ve just been Christmas shopping and I can tell prices have gone up. Tacky stuff now cost more for some reason.
Time to go back and start gifting Amazon gift cards.
Emperor@feddit.uk 11 months ago
Rather than tie them to Amazon (unless they ask for one), I tend to give the Post Office One4all gift card. It gives your local Post Office some much needed custom and the range of shops it works with is so wide pretty much everyone can find somewhere to spend it.
blackn1ght@feddit.uk 11 months ago
My parents would give me these and I wouldn’t recommend. I think I had two cards that I couldn’t activate and it would always be a pain at the retailer. And I know this is my issue, but I’d just forget I had them and then they’d expire (which should be illegal in my opinion).
DakRalter@thelemmy.club 11 months ago
That reminds me, this month is my three year Amazon-free anniversary and I don’t miss it one bit. And I used to be the type of person who would immediately go to Amazon the moment I needed anything.
I recently watched Louis Rossman’s video on the decline of Amazon, and man I’m glad I don’t use it anymore. That channel 4 documentary was interesting too, how easily he could game the system.
I agree, give them a general gift card like one4all or love2shop. Don’t be sending more people Amazon’s way, you’re just adding to the problem.
Also if your employer has one of those discount schemes with other retailers, look it doesn’t matter if it’s just 6%, claim it. It adds up.
Fake4000@lemmy.world 11 months ago
That’s actually a better idea. Would do next time.
thehatfox@lemmy.world 11 months ago
In my family we mostly only do small, cheaper gifts to each other. This year it’s been hard to find anything that’s cheap, even the tat is expensive now.
On the other hand I’ve noticed more shops quickly putting big discounts on Christmas decorations this year.
FatLegTed@feddit.uk 11 months ago
Not Amazon, that’s half the reason Hight Streets are struggling.
Gift vouchers for local places, magazine or software subscriptions.
I’d love them for Christmas, I don’t need more shirts.