Les ventes au détail au Royaume-Uni ralenties par le mauvais temps et l'inflation en baisse : l'impact sur le comportement des consommateurs

Wet July and slowing inflation impact UK retail sales

Retail sales in the UK experienced a slowdown in July due to the wet weather and slowing inflation, according to the latest reports from the British Retail Consortium (BRC) and KPMG. The data revealed a decline in the volume of sales and an increasing number of retailers offering discounts to attract hesitant customers. The BRC/KPMG report showed a steep annual drop in the volume of sales, with more retailers resorting to promotional offers to entice consumers who are reluctant to spend. Alcoholic drinks were included in this trend, with over 20% of consumers reporting instances of "drinkflation," where the amount of alcohol in drinks was reduced.

Impact of wet weather and shifting consumer behavior

While the value of spending rose modestly in July, it fell once inflation was taken into account. The BRC/KPMG report stated that the value of sales was 1.5% higher than in July 2022, while Barclays reported a 4% increase in consumer spending using credit and debit cards compared to the previous year. Paul Martin, KPMG's head of retail, noted that retailers are implementing more promotions to attract shoppers and maintain market share. He also highlighted the impact of price-conscious consumers who are shopping more carefully and seeking bargains. The wet weather in July affected sales of summer clothes, leading to extensive price-cutting on the high street. However, spending on entertainment, including concert tickets and eating out, increased by nearly 16% compared to the previous year.

Consumer behavior and concerns for the future

Barclays also reported that consumers are becoming more selective about their grocery purchases, with seven out of ten people looking for ways to reduce their weekly grocery bills. The bank found that the proportion of shoppers noticing shrinkflation increased from 70% in June to 73% in July. The BRC/KPMG report revealed a continued decline in online sales, with the proportion of non-food sales online reaching its lowest level since the start of the pandemic. In summary, the wet weather in July and slowing inflation had a significant impact on UK retail sales. Retailers responded by offering discounts and promotions to attract hesitant consumers. The data also highlighted consumer sensitivity to shrinkflation and a shift in spending patterns towards entertainment rather than high street stores. The impact of high inflation and rising interest rates on consumer spending for the remainder of the year remains a concern. Today's concept is "shrinkflation." Shrinkflation refers to the practice of reducing the size or quantity of a product while keeping its price the same or even increasing it. This concept is often seen in the retail industry as a way for companies to maintain profit margins in the face of rising costs. Consumers may feel the impact of shrinkflation when they notice that a product they regularly purchase has become smaller or contains less content. This can lead to a sense of dissatisfaction and a perception of reduced value. In the case of the UK retail sales slowdown, the BRC/KPMG report highlighted consumer sensitivity to shrinkflation, particularly in the alcoholic drinks category. Over 20% of consumers reported instances of "drinkflation," where the amount of alcohol in drinks was reduced. This demonstrates how consumer awareness of shrinkflation can influence their purchasing decisions and impact overall retail sales.