The third lockdown seems to have hit the UK retail world the hardest – and this time it’s the new variant of virus that’s killing the sales. Apparels and footwear segment, in particular, has been hit severely.
This was, reportedly, confirmed in a survey conducted by British Retail Consortium (BRC).
Another survey by Barclaycard distinctly showed that there’s been sharp fall in consumer spending, with people across the country more worried about their jobs.
The survey findings may just put that much-needed pressure on Chancellor Rishi Sunak to provide more tax relief measures to save stores and save jobs. With budget less than a month away, some more relief programmes could be on the way.
The year hasn’t begun well, with sales hit badly, and now the retailers are pinning all their hopes on pent-up savings. Mass rollout of vaccines too is something that the retailers are looking forward to with lot of hope.
Consumer psyche continues to be down, with only 40 per cent of Britons being optimistic about their job prospects.
Stay connected to know if Government rolls out any immediate measure to save stores and save jobs.
