After all, the rate of UK shop price inflation slumped significantly in April, reaching its lowest level in more than three years. The slump in UK shop price inflation was mainly driven by countless promotions and dropping commodity prices. Indeed, UK retailers have been doing whatever it takes, including price cuts, to lure customers to their stores.
On the 5th of February, the survey by the British Retail Consortium indicated that the UK retail sales increased in February at the fastest rate in about three years. The latest figures suggested that consumer confidence was boosted as UK customers went out to buy clothes, home furnishings and electronics goods.
While the world is changing, habits of nations are being changed as well. Recent research indicates that Britain not only has become a mobile device-obsessed nation, but also a nation which is highly addicted to online shopping. Britons use their smartphones and tablets to search for TV programs and shopping offers as well. And Britons are top internet shopaholics!
On 4th of December, the British Retail Consortium informed that UK retail sales rose approximately 0.4 percent on a like-for-like basis in the month of November as customers started their Christmas shopping. Some analysts, however, expected a higher result. But this year UK customers are waiting for holiday bargains to start in the coming weeks as they try to cut down spending in the holiday shopping season.