British markets are preparing to record their worst sell-offs in recent years in the “Christmas” and New Year seasons, in light of the inflationary crisis and the high cost of living in the country, and in concurrent with the growing anxiety of many of the upcoming economic events instability.
The latest data released in London, viewed by Al Arabiya Net, showed that market demand in Great Britain fell by 13.6% last November, in drop of 1.5 percentage points compared to what was recorded in October, in as consumers increasingly tend to limit spending due to the acute cost-of-living crisis.
According to the British Retail Consortium (BRC), this is worse than the last three months’ average decline of 11.5%, which heralds further declines during the ‘Christmas’ and New Year’s season, which is considered the main shopping season every year. year , trending UK markets To record the worst ‘Christmas’ in years in terms of sales and consumer demand, except for this, of course, the Corona period, i.e. the last two years in which markets have been disrupted due to shutdowns to limit the epidemic.
The data, covering the four weeks between 30 October and 26 November, revealed that market appetite in Britain was down 13.6% for the month compared to before the pandemic in 2019.
Retail stores have suffered in this period a decline of 4.2%, while the number of shopping centers decreased by 23.2%.
On an annual basis, overall demand for markets increased by 3.7%, for high street shops by 8% and for shopping centers by 7%.
Market demand in Birmingham fell by 19.4% over the four weeks, marking the worst performance in Great Britain in just one month.
The press said November also brought a number of disruptions in shopping habits, with train and postal strikes, as well as concerns over the World Cup.
Helen Dickinson, chief executive of the British Retail Confederation, said: “Traffic has suffered another slump as the cost-of-living crisis prevented some consumers from visiting stores in November. Others have chosen to stay home due to the ‘interruption of the railway strikes, or have chosen the World Cup over visits. shopping’.
Dickinson added that many major cities have been hit hard, with Birmingham, Bristol and Manchester seeing the steepest drop in market demand since January.
Rising inflation and low consumer confidence continue to dampen spending expectations in the run-up to Christmas. While retailers do their best to keep prices as low as possible for their customers, for many families, financial worries trump spending.
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