“The first four months of 2023 have told much the same story as 2022, that being significant volume decline and pressure on retailers and consumers alike. Fashion and beauty are currently the bright spots, and the successes in these areas show that there is still opportunity for low-ticket mood boosters to draw demand from shoppers. The second half should see inflation ease further, and this will ease some pressure on retailers. For those who are bold, cut prices early and communicate this clearly there will be building opportunity to encourage demand, or claim back shoppers which may have elected to trade down as a precautionary measure.”
– Nick Carroll, Category Director – Retail Insights
Key issues covered in the report:
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