It’s always important for retailers to maintain an inviting environment for consumers – but this is likely to be even more of an imperative in the coming months and years with several indications that trading conditions are likely to tighten up. In this post we share some facts and figures you may find useful when planning how to keep your sales buoyant even if customers are being more cautious with their money. And if that includes revamping your stores with some bespoke metal display systems we have bags of design and manufacturing experience to help you boost footfall and sales revenues.
Feeling the pinch
UK consumer spending growth may be weakening to about 2 percent.
In February and March the Consumer Price Inflation (CPI) rate stood at 2.3 percent. Although in line with expectations it is at the highest level since September 2013, and above the Bank of England’s two per cent target. At the same time real wages appear to be declining.
The Brexit factor
Then there’s the uncertainties surrounding Brexit. In response to Prime Minister Theresa May’s announcement for a snap election in June British Retail Consortium (BRC) chief executive Helen Dickinson said that “The retail industry will want to see plans from the next government that puts consumers first in the Brexit negotiations and ensures that ordinary shoppers aren’t hit with the cost of unwanted new tariffs”.
The BRC is lobbying hard to protect the interests of the sector with Helen Dickinson arguing strongly that “The retail industry is a driving force in our economy. Political and economic stability, and a business tax environment fit for purpose in the 21st century, is what’s needed for the retail industry to drive productivity with better jobs, innovation and new skills for the digital age.”
Time to up your game
So, where does that leave retailers? Facing what are likely to be somewhat unhelpful trading conditions and having to compete harder than ever for sales. Well as you know, the good news is that people like shopping, and if you create an attractive retail environment they will come. If you’d like some advice on the best ways to give your stores a facelift and improve the effectiveness of your retail display systems then we’d be more than happy to share our design-engineering and fabricating experience with you. Sure, there are some challenges around but that’s always been the case – and those retailers who stay attuned to the latest trends and provide the most appealing shopping environments continue to build footfall, market share and revenues even when some others struggle.