To say the backdrop against which fashion brands must operate today is ‘challenging’ is an understatement.
Consumer confidence has never been more fragile and more sensitive to market movements than it has in the past 24 months. A perfect storm has been brewing in the UK thanks to a succession of seismic events from Brexit to the pandemic, the death of HM The Queen, and continued disruption to retail footfall and e-commerce deliveries, brought about by ongoing strikes across the Royal Mail and rail networks.
Political uncertainty has certainly not helped matters either and consumers are acutely tuned into it. Footfall across UK retail destinations dropped by 3.7% in October as Britons put the brakes on shopping trips following the announcement of former Prime Minister Liz Truss’s ‘mini budget’, which sent the Stock Market into a spiral.
As we head into the ‘Golden Quarter’ with a growing cost of living