Clothing spend rose last month but the UK retail sector remains on a knife-edge with consumer confidence weak and supply chain issues a big worry, the monthly Barclaycard and BRC reports showed on Tuesday.
Fashion was a major contributor to rising consumer spending in May, two reports showed on Tuesday. Both Barclaycard and the BRC/KPMG sales monitor showed that British shoppers were in the mood to update their wardrobes.
The series of national lockdowns has resulted in significant changes to the way Britons consume goods, including what they buy, the channels they buy through and how they pay, according to new research.
Physical shops may be closed, but 52% of UK retailers are offering products specifically for Valentine’s Day. And 41% are expecting the event to give them a sales boost with average expectations of a 26% increase.
The UK began a lockdown on Monday evening as the government said people must now stay at home and gave only a few legitimate reasons for going out. It also called out fashion stores in particular as having to close.
Britons are expected to spend £1.2bn at festival pop-ups this summer, and while food and drink are top on the list of priorities for festival-goers, fashion and experiences are also proving highly popular.
Returns volumes are rising as Millennials take advantage of liberal policies, but retailers are clamping down, although this could alienate some shoppers who select stores based on their generous returns strategies.