UK consumer confidence fell to a record low in June as shoppers grappled with a stark new economic reality, figures from Gfk’s long-running series of reports show. Its confidence Index dipped one point to -41.
A giant group comprising European fashion councils and other bodies has been created under the European Fashion Alliance (EFA) banner to “empower a prosperous, sustainable and inclusive European fashion ecosystem”.
Global retailers and consumer goods makers remain in crisis mode and expect consumer behavior to remain unpredictable for the foreseeable future, top industry executives told a conference in Dublin this week.
Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch.
British shoppers swapped branded items for cheaper own-label products and turned to value ranges to help manage grocery inflation which has soared to 8.3%, its highest level since April 2009, industry data showed on Tuesday.
Paul & Shark is forecasting a 2022 revenue of €130 million, a 3-4% growth over 2019. At Pitti Uomo 102, it launched Re-Sail, a project for upcycling used sails, and is focusing its retail efforts on sub-Saharan Africa.
Harlem's Fashion Row announced on Thursday a new partnership with LVMH North America, which will see the two organizations work in unison towards a more diverse, equitable and inclusive fashion industry.
British consumer spending on credit and debit cards fell sharply in the week to June 9, as did visits to retail and recreation sites, weekly figures collated by the Office for National Statistics showed on Thursday.