Confidence
Festive season fails to boost UK retail sales
UK retail sales rose by 1.7% in the five weeks to the end of December 2023, well below the 6.9% growth recorded in the same period in 2022. Low consumer confidence continues to curb spending
German retailers expect weak Christmas sales
German retailers are not expecting a boost from Christmas sales this year. As geopolitical concerns threaten to dampen consumer sentiment, weak demand continues to weigh on their businesses
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Cautious British consumers hold back on spending
Figures by the British Retail Consortium (BRC) suggest that retail growth slowed down in October due to the impact of inflation, with consumers deciding to reduce spending ahead of the holidays
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UK Retail: stabilisation of the footwear trade is the best we can hope for at the moment
The bad weather in July and August may not have helped retail over the summer, but it would be ill-advised to believe that’s what it’s all about. Despite some improvements in the general consumer price index, the footwear segment continues to show some resistance to going along with the trend. Inflation will have to continue to fall in order to contribute to sustained sales growth in the future, as most consumers have too much on their plate to spend on non-discretionary items. The only positive sign comes from imports, whose data seems to indicate that at least a stabilisation in retail trade is on the horizon
Germany Retail: retailers’ troubles are far from over
Confidence indicators are a red flag for retail at the moment, especially on the retailers’ side. The slow decline in inflation is likely to have a negative impact on consumer prices in the clothing and footwear segment, which will undoubtedly continue to limit consumers’ purchasing power; even the fall in import prices is not entirely positive news, as it will take time to translate into reality. Only the online channel seems to be more optimistic about the times ahead
Spain Retail: the future of footwear retail is clouded for the rest of the year
It’s not all bad news. The downward trend recorded by the TCF deflated retail sales index from April onwards remains above last year’s figures, and consumer confidence is about to reach a positive threshold. However, consumer footwear prices show yet no signs of slowing down, and, above all, imports in the category seem to be declining. These two factors could in fact be a warning of a further deterioration in footwear demand in Spain by the end of the year
France Retail: the retail boat is sitting on the water waiting for the wind to pick up
After a somewhat mixed performance over the summer, highly impacted by short-lived events such as the postponement of sales due to the riots or August’s heatwave, some signs suggest that retail in France could improve next year. Consumers seem to be less pessimistic about rising prices and their personal financial situation. But it all comes down to the trajectory of inflation, and whether food and energy prices will effectively ease until the end of the year
US Retail: distressing times for footwear retail
In an environment of widespread destocking, footwear retail sales have been declining since the start of the year in the US, and despite good news such as a continuous moderation in price increases. The problem remains with the rising consumer price index for all categories, whose decreasing pace is not enough to generate an overall positive impact. Consumers are still attending to more pressing needs, and footwear is not on that list
UK Retail: a too-long string of ifs damps the mood
Consumer confidence in the UK has yet to take off to somehow improve retailers’ mood in the textile and footwear sectors. Rising wages, falling energy bills and even slightly lower inflation may help brighten the atmosphere, but the uncertainty surrounding all of these factors doesn’t help retail much at present. For now, except for sticking to their previous conservative import decisions and watching closely for upcoming changes in consumption patterns, there’s little to be done
Germany Retail: a bleak horizon for both the physical and online retail
Consumers seem to have definitely pulled the rug out from under footwear companies, as can be seen by the wave of insolvencies observed in the footwear sector in recent months, in addition to the store closures recorded in 2022. And the online channel is having no better luck, with sales progressively losing the momentum of the positive results recorded in the summer of last year. Overall, the future of retail looks set to remain a little gloomier in the coming months
Spain Retail: good signs for retail in the first quarter of the year
Several indicators showed that consumer confidence is improving, reversing the downward trend seen after the invasion of Ukraine, but overall, consumer sentiment remains rather pessimistic. On the other hand, retailer confidence has been on the rise since January. In fact, the TCF (Textile, Clothing and Footwear) Retail Index (seasonally adjusted, by Eurostat), which had been recovering modestly from June to November 2022, soared thereafter as if Christmas were an uninterrupted season for the entire first quarter of 2023, and even the imports’ behaviour seems to have anticipated a sales boom. Meanwhile, expectations for online sales in 2023 are overall positive, but comparisons with the pandemic period might be misleading
France Retail: prospects for the clothing and footwear sectors are still far from positive
The stabilization of the pattern of weakening French consumer confidence in the first quarter of the year cannot mask the pessimism that is still being felt in the country, especially in the context of social unrest. Moreover, in this reality of high inflation, neither do price increases hide the contraction in volumes sold nor is it possible to ignore the difficulties faced by companies more exposed to the domestic market due to increased operating costs (rents and energy) or even the stagnation of the online channel. Retail prospects for the clothing and footwear sectors are, therefore, still far from positive-
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