British retail sales unexpectedly drop in December
https://www.ft.com/content/0cf8648c-1f82-431c-915d-663d34eb19a6
Posted by SlySquire
British retail sales unexpectedly drop in December
https://www.ft.com/content/0cf8648c-1f82-431c-915d-663d34eb19a6
Posted by SlySquire
25 Comments
How is it a surprise? The BoE put interests rates up specifically to ensure people had less money to spend.
Not exactly unexpected. When working people earn less, they spend less on unnecessary goods
Christmas is not invulnerable. People can’t just magic expendable money out of nowhere
The reporting of this is always awful, when you read the stats the YoY number is marginally positive so it’s not as grim a number as the headline implies.
Retail has been struggling for a while now for the most part. I doubt the many people had a surplus of cash on hand just for Christmas and many people have just survived through the year and Christmas won’t change the need for counting the pennies.
Alternatively, and this might also contribute to it, a lot of people i know now buy Christmas presents throughout the year so they’re often done by August-November. That won’t show up in data and I imagine it’s still a minority but it’s a trend I’ve noticed amongst friends and family
Needed to do my Xmas shopping so went to Westfield the week off Black Friday expecting the worst. It was actually quieter than it would be normally. Either people were buying online or they really cut back this year.
Inflated parking charges, overpriced and overcrowded shops, why could people possibly want to avoid this?
Any time I see something I like in a shop now, it’s almost always cheaper online, and I’ll get it the next day. Pretty straightforward if you ask me.
Not surprising, with my limited budget I spread present shopping over three months to lessen the impact. I’m sure others did the same, didn’t buy as much either.
I’m just surprised they didn’t go with an alternate headline like “Millennials and gen z declare war on Xmas”.
I feel conflicted with this news because this ultimately means people have less expendable income thus indicates we are all poorer and struggling even more. It can also result in people losing their jobs, not just the retail staff but all backend stuff such as the manufacturers, admin, delivery drivers and the ilk. Whilst on the other hand it does align with my r/anticonsumption ethos. Ultimately the mass consumption of goods has been terrible for the environment from fast fashion to forever chemicals and micro-plastics. Like I want more people to consume less, but not because they can’t afford to consume, and nor do I want people to lose their jobs.
All the things my kids asked for were not physical items. They want this game or that game and it’s a download instead of a disc.
China doesn’t produce anything worth buying, and that includes western brands putting there badge and logo on top of this absolute garbage they pump out.
‘Unexpectedly’ who exactly was expecting a bumper sales period?
The figures indicate we’re likely to enter recession. So expect higher unemployment and stagnation in wages.
I’d like to apologise to the economy, we stopped doing presents for people over 10 this year due to costs.
Our bad.
People have less disposable income, and the goods they do purchase are predominantly rising in price whilst dropping in both quality/quantity.. but it’s unexpected?
Also, Viva la Vinted lol
Because they overpriced the cheap shit they try and sell.
But Rach from complaints is ‘fixing the foundations’ even if that means turning businesses to dust. Of course a 0.3% reduction in Xmas sales is great news…it means her plan is working. She likened herself to Thatcher yesterday so perhaps a nickname ‘The Iron Headed’ would suffice??
With employment law changes, minimal wage and employers NI to kick in soon….you aint seen nothing yet.
I like the retro 1975/76 economy look Labour is going for.
we don’t buy xmas presents.. instead we get our gifts during the boxing day sales.. spend less for more
My partner and I both agreed that we’d get each other absolutely nothing this year and honestly it was great. Just chilled out at home under the electric blanket, reading books and watching him play Spyro the Dragon.
We broke. 14 years of Tory leadership has only seen decline after decline.
Unexpected? Really lol, wages have been repressed for years while big businesses have been making profit year on year and now they’re wondering why people suddenly can’t spend. There’s a limit to how much people can borrow on credit cards and loans to buy things they don’t have the money for but that only lasts for so long until they reach the end of their credit limits and or realise they’re going into financial ruin.
Brits: in a cost of living crisis.
Also Brits: Buying less shit.
The high street: *surprised pikachu face*
Prices go up.
Wages do not, or go up less.
Peope don’t have money to spend.
Sales drop.
What part of this is unexpected?
If companies want to keep putting prices up 10%+ per year they’re gonna have to start putting wages up a lot more than they typically do or people won’t be able to afford their stuff.
Why are they pretending that somehow people are going to have wads of spare cash to spend after all the price hikes?
Companies paying their employees just enough to pay rent and survive in order to maximise profits
Companies when people can’t afford to buy things: 😱