April News Roundup
As this month draws to a close, things have taken a turn for the worse for the high streets with the announcement that the UK’s economy has taken a second plunge into recession, according to figures released by the ONS. With added costs to individuals and households, consumers are forced to cut back on many areas of spending.
However, there is a positive news story for retail: although employment is down in many sectors, there has been a 0.4% jobs rise in the retail industry.
Perhaps it is retailers’ efforts to innovate and enhance the shopping experience that is giving them a boost despite the recently announced double-dip recession. Marks and Spencer’s latest scheme could also prove successful with environmentally aware markets: their ‘Shwopping’ clothes swap drive aims to reduce the amount of clothes that are sent to landfill. A bold and innovative initiative that can see the British public raising millions of pounds for the world’s poorest people.
There’s more positive news for retail: according to Reuters, spending has increased, bucking the trend of the recession. With somewhat mixed messages from the retail industry it is hard to predict the future of consumer confidence. The mood of British consumers may however warm up as summer is approaching with exciting events and, we hope, brighter weather.