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Escalating business rates are continuing to put pressure on high-end West End retailers, according to the latest figures from global property consultancy Colliers International.
Shop Price inflation accelerated in December to 0.3%, up from 0.1% in November, representing the fourth month of inflation in five years and the highest inflation rate since April 2013.
Footfall on Boxing Day (December 26) for the period up until 12pm was 4.2% lower than the same period in 2017, according to data from Springboard.
Shoppers visiting London’s West End are expected to spend £186m in the final three days before Christmas.
Footfall monitoring service Springboard is forecasting that there will continue to be a decline in footfall over the next week, the final shopping week before Christmas, compared to the same period last year.
Global research firm Mintel predicts that this December’s retail sales will reach £47.7 billion (incl. VAT), growing 4% compared to last December, when sales hit £45.8 billion.
Black Friday and the weekend that follows will do very little to help the beleaguered high street.
Managing director of Wongs the jewellers, Peter Wong comments on Christmas retailing and the importance of remaining a family business.
Lumbers’ managing director, Dominic Gomersall, tells Ruth Faulkner why being the best jeweller in Leicester is his measure of the business’s success.
Julian Fisher, chief executive of retail technology provider, Jisp analyses the high street’s shopping experience and explains how retailers need to offer a more integrated approach
Norman Roberts, vice president and managing creative director for strategic design and architectural firm, FRCH explains how independent jewellers can stand-out from the crowd.