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Consumer Card Spending Grows at Slower Rate in May as Brits Curb Discretionary Purchases

365 Retail

This slowdown reflects Brits cutting back on discretionary purchases to manage mounting inflation and rising food prices. A quarter (26 percent) of shoppers stated that they are reducing their purchases of new summer outfits due to the rising cost of living, and over a third (35 percent) plan to reuse their old summer clothes to save money.

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Hot weather boosts spending on clothing, beauty and electronics in July, yet hospitality and overseas travel see short-term slowdown

A1 Retail

While still in growth, hospitality and international travel saw month-on-month declines as Brits cut back on holiday and social plans to offset higher outgoings. Meanwhile, discount stores grew 3.1 Electronics retailers performed particularly well as consumers bought gadgets to keep cool during the heatwave. per cent and 3.3

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Consumer card spending grew just 3.6 percent in May, while food price inflation pushes grocery spending to its highest growth in two years

A1 Retail

This comes as a quarter (26 percent) of shoppers say they are cutting back on buying new summer outfits due to the rising cost-of-living, and over a third (35 percent) plan to re-wear more of their old summer clothes for the same reason. Meanwhile, discount stores enjoyed growth of 5.0 percent and lower than April (4.3

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7 Price Planning Tips to Maximize Retail Profits (2020)

Retalon

Price planning is one of the most difficult (and often misunderstood) elements of retailing strategies. Pricing right is the fastest and most effective way for managers to increase profits.” ( McKinsey & Company ). But emulating successful retailers in price planning isn’t enough. What does this mean for price planning?