Talk to an Expert

    Viewpoint: ONS reports a 0.5% drop in retail sales in GB in May ’22

    5th July 2022 | 2 min read

    By Ed Betts, UKI General Manager

    Last week’s news from the ONS highlighted the continuing impact of inflation with a fall of 0.5% in retail sales figures in May 2022. Retail Express appreciates the tough situation that many retailers are now finding themselves in. Our experience is that, in challenging times, customers will be more concerned about how they can make savings by changing their buying habits than being loyal to any particular brand. What should retailers do?

    It’s therefore all the more imperative in the current climate that retail businesses negotiate hard to place the best deals and offers in front of their customers, giving them a compelling reason to remain loyal. It’s important for retail leaders to consider that customers will not hesitate to switch to deep discount stores, not out of preference, but through necessity when they feel that they are no longer getting the best value for money. We have already seen evidence that customers are drastically changing their shopping habits to put food on the table.

    However, while such high levels of inflation are having a dramatic impact on the market, retailers should keep in mind that making any knee-jerk reaction in response can be risky. While it’s crucial to be able to react to inflationary pressures and changes in the market dynamics, it’s also imperative to keep the customer at heart. Any decision not fully thought out or implemented as part of a wider strategy could have long-term implications, taking significant time to undo and, ultimately, damaging the brand.

    Innovative solutions such as intelligent merchandising that uses artificial intelligence can help. Retail leaders need to be leveraging AI to capture deeper insights, anticipate customer needs and proactively deliver across every touchpoint. Real-time data can be used to generate accurate predictions and forecasts and will enable better decisions about selecting the right sales mix. This helps retailers keep the customer at heart by presenting the best deals available and unlocking greater value.

    Read more about the impact of inflation and our solutions to help retail businesses

    More from Uncategorized

    • Retail Trends 2023: Strategic focus now critical to be competitive

      AI (Artificial Intelligence) | Blog

      Retail Trends 2023: Strategic focus now critical to be competitive

      3 min read | Barry Grange CEO, Retail Express 2022 was a difficult year. Though sales percentages were up almost across the board in the grocery sector, retailers spent the year battling rampant inflation, frequent supplier price increases, rising energy costs, and numerous other economic challenges. Customers felt the pinch deeply, meaning retailers were forced to fight, wherever possible, to prevent passing on additional costs. Sadly, the …

      Learn more
    • Stronger supplier engagement through AI tools

      AI (Artificial Intelligence) | Blog

      Stronger supplier engagement through AI tools

      = Summary: Ed Betts explains that the time to reach for advanced tools is now – and the opportunity to optimise retail processes does not have to be disruptive or difficult Managing supplier interactions can be a minefield. Each vendor comes with different demands and expectations; every product line, promotion and media campaign stretches retail teams further. Finding the space required to jump on growth opportunities is …

      Learn more
    • Retail Express listed as a Sample Vendor in the Hype Cycle for Retail Technologies – July 2013

      News | Press Release

      Retail Express listed as a Sample Vendor in the Hype Cycle for Retail Technologies – July 2013

      3rd July 2013 | 1 min read Retail Express was recognised among a shortlist of vendors in the 2013 report. July 2013 – Retail Express, a leading provider of merchandising solutions, today announced that it has been identified as a Sample Vendor in the Gartner Hype Cycle for Retail Technologies – July 2013. “Our sole focus for seven years has been on working closely with our customers to …

      Learn more
    • Space Analytics (Historical & Predicted)

      Category Management | Press Release

      Space Analytics (Historical & Predicted)

      20th August 2016 | 1 min read Retail Express is pleased to announce the extension of its Category Management / Merchandise Management solution with the provision of Space Analytics, Sales, Profit, Unit, Margin, GMROI analysis by Store, Store Type, Market, Store Group, Store Size, Store Sq. Ft ( Sq Metres), by Linear Shelf Space, this Year v Last Year with Variances and versus Plan/Budget. The analysis can …

      Learn more

    Download Whitepaper