Data news and archive

Shoppers to spend two billion pounds on secondhand gifts this Christmas

The secondhand market has already taken precedence over consumer priorities in recent years, and it seems that even into the festive season, the sector will continue to enjoy a favourable environment. In fact, according to new research by Vinted and Retail Economics, UK consumers are expected to spend over two billion pounds on secondhand gifts...

BusinessFeatured

US retail sales bounce back in October ahead of forecasted ‘record’ Thanksgiving weekend

Things seem to be looking up for the US retail sector, which bounced back “strongly” in October according to new figures released by the CNBC/National Retail Federation (NRF) Retail Monitor. According to the report, total retail sales were up 0.74 percent seasonally adjusted month-over-month, and up 4.13 percent unadjusted year-over-year in the...

Business

Bank of England maintains interest rate at 5 percent

The Bank of England has placed the UK’s interest rate on hold at 5 percent after it was reported that inflation rates stayed at 2.2 percent in August, above the bank’s 2 percent target. The widely-expected decision was made following a meeting by the Monetary Policy Committee (MPC), who voted by a majority of eight to one to maintain the current...

Retail

Retailers urged to improve workplace wellbeing as cases of poor mental health rise

A new report by retail industry charity the Retail Trust has brought to light concerns over mental health issues among UK retail and call centre staff. To collate its data, the organisation surveyed over 1,300 retail workers, 17 percent of which said they had missed at least one day of work this year due to poor mental health. Among the...

BusinessFeatured

New York’s fashion industry is yet to recover, but what can be done to save it?

New York Fashion Week (NYFW) SS25 remains ongoing, and while previously cloaked in the shadows of its European counterparts, the increased presence of celebrity front-rowers and the inclusion of brands once dedicated to Paris or Milan could signal a return to its original status. The city’s wider industry has also been undergoing a revival after...

BusinessFeatured

With LA 2028 looming, can the Olympics be a long-term investment for fashion?

The 2024 Paris Olympics have undoubtedly placed the fashion industry in the spotlight. Partnering with the Olympics gives brands unprecedented visibility and maximises marketing budgets, however some analysts have questioned whether direct sales will live up to the hype. But is this truly the primary objective? LVMH is a case in point. Despite...

Business

UK inflation edges up in July for first time this year

After a promising few months of falling inflation in the UK, it appears that such an outcome wasn’t able to extend into July 2024, with headline inflation once again rising to 2.2 percent. This is according to the latest CPI figures, collected by the Office of National Statistics (ONS), which showed that, despite food inflation remaining...

Business

BRC: Retail still lacking in the way of inclusion despite slight improvements

A new report by the British Retail Consortium (BRC) has outlined slight improvements in the UK’s retail sector in the way of diversity and inclusion, yet such elements remain tough to crack. Together with The MBS Group, the BRC released a Diversity and Inclusion in UK Retail report, looking into areas such as gender, ethnicity and disability,...

Retail

UK retail sales rise in May, clothing retailers welcome rebound

One day on from the report that inflation had finally hit Bank of England’s target, dropping to 2 percent, there appears to be more good news on the horizon for UK retailers. New figures by the Office for National Statistics (ONS) have shown that retail sales volumes rose by 2.9 percent in May following a slight 1.8 percent drop in April....

Business

UK inflation drops to 2 percent, hitting Bank of England targets

New figures drawn up by the Office for National Statistics (ONS) have shown inflation in the UK fell to 2 percent during May, hitting the Bank of England’s target. According to ONS, the consumer prices index (CPI) rose 2 percent in the 12 months to May 2024, dropping from 2.3 percent in the 12 months to April. Including owner occupiers’ housing...

BusinessFeatured

Tech tools for combating poor fit and returns: data analytics, AI and VR

About This article was written for FashionUnited by Helen Scurfield, Innovation and Development Director, Asendia. What is causing returns on this scale? A massive 46 percent of US consumers in a recent Harris Poll gave ‘poor fit’ as the prime reason for returning garments, ahead of damage (38 percent) and poor quality (36 percent). This issue...

BusinessFeatured

Meta’s data processing for advertising ruled illegal under EU law

Meta on Wedneday was fined 390 million euros for breaching European advertising rules. The American tech giant’s data-fueled advertising model, which it sells as personalised ads, must now be re-assessed to meet Europe’s strict privacy laws. Europe is one of Meta’s largest advertising markets and restrictions to its ads may impact revenue with...