Brands can benefit from the retail rebound
The retail rebound
As the retail rebound continues across the UK, a number of sectors have been thriving.
Retail sales registered their fourth month in a row of growth during August, the Office for National Statistics (ONS) said.
In-line with post-lockdown life, the highest consumer appeal therefore lies in a number of sectors.
No place like home
In a clear message that shoppers have changed their habits during the lockdown, the biggest gains went to online shopping. This comes as families are spending more time staying indoors making more of an effort to entertain with quality food & drink.
In particular, household goods and DIY sales have been thriving as a result. This accounted for 33.4% of all spending in May, compared with the 30.8% reported in April and an average of 18% seen last year.
For those with wanderlust, holidays at home have become the norm including trips to the countryside and staycations. Meaning that the automotive sector is seeing an increase in activity, as consumers hit the road to travel safely.
Get Christmas cracking
As the retail sector gets back on its feet, almost a third of Brits have already starting their Christmas shopping. The need to save money is the main reason for getting started early.
Families intend to spend around 25% more than usual on Christmas presents in 2020 according to money.co.uk. Based on this data, the main reason for over-spending is to spread some cheer and treat loved ones after a rather limp year in lockdown.
Let yourself grow
The pandemic has created major uncertainty for consumers’ personal finances including pensions or investments. Depending on plans after work or withdrawing money from your pension, you may have to consider how this affects your retirement.
There has also been a focus on helping businesses to a new way of working, as we all adjust to the ‘new normal’.
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