Retail Sales jump in June but storm clouds looming
|Brits splashed the cash thanks to summer discounts and the warmest June on record with volumes rising across nearly all sectors.
However, threats to future spending appear to be just around the corner with the Bank of England holding off further rate cuts, inflation rising far quicker than expected and a stagnating job market all pointing to a downturn in consumer confidence and spending ahead.
Moreover, with further tax hikes on the cards for the Autumn budget, retailers will need a successful summer to make up for any financial challenges down the line.
Retailers must be agile in this uncertain environment. Ensuring ample preparation, minimising supply-chain and operational costs, and implementing robust FX hedging strategies can all help businesses to be flexible around any volatility ahead.
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