The article highlights the challenges facing UK retailers, as a recent survey shows a significant drop in industry sentiment, the sharpest since the pandemic. Retailers are struggling with rising costs from increased national insurance contributions, leading to anticipated job cuts and reduced investments over the next year. Additionally, the article notes that inflation is at its highest level since last year, contributing to low consumer confidence, which hit a record low in April. These factors together create a daunting outlook for the retail sector.
Retailers in the UK are expecting price hikes and job cuts as confidence in the sector has plummeted, worsened by increased national insurance contributions and inflation.
While inflation has reached its highest level since last year, many retailers are forced to reconsider their investment plans due to rising costs and declining consumer confidence.
Collection
[
|
...
]