The Cut Back Economy 2023: A Widening Crisis - Retail Economics

Find out about consumer cut back behavioural intentions for the UK retail industry as we move further into the cost of living crisis. This short clip features Richard Lim (CEO Retail Economics) responding to five questions related to our research report produced in partnership with Grant Thornton: "The Cut Back Economy 2023: A Widening Crisis".

Questions posed:
1. How worried should the retail industry be?
2. Do you think cuts to non-discretionary purchased by UK consumers will increase?
3. How can brands enhance loyalty?
4. How can retailers capitalise on affluent household spending?
5. How so you see the balance of store and an online presence?

The report overs:
• The widening cost of living crisis impact
• Consumer cut back behaviours
• Changing customer journeys
• Financial resilience
• Retailer strategies for tackling the current retail environment

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