Shops are suffering as we are struggling to cope with the high cost of living
Sales in UK shops are suffering as we are struggling to cope with the high cost of living.
The situation might not be quite as bad as in the featured image – but can closures be avoided?
Here’s The Guardian:
British retail sales volumes stagnated at 0% in March after an increase of 0.1% in February, according to the Office for National Statistics.
The figures were worse than the 0.3% sales growth expected by economists polled by Reuters as a contraction in food sales and department stores offset higher sales elsewhere.
Heather Bovill, an ONS senior statistician… [said]: “Retailers say higher prices hit trading.”
Lisa Hooker, the PwC [PriceWaterhouseCooper] leader of industry for consumer markets, said: “What is clear is that the first quarter of the year has been disappointing for many retailers. Lower inflation and the first 2% cut to national insurance, which was felt in January’s pay packets, have yet to translate into a sustained recovery in spending.”
So shop bosses and the manufacturers of the products they sell have all had a setback because we can’t afford their products any more?
Good. Perhaps now they will realise that they can’t expect to keep making a profit from us if they don’t pay their employees enough money to live on.
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