Against a backdrop of different policies and lockdown measures across Europe, continental clothing retail is tracking at 38% of year-on-year levels compared to just 17% in the UK – where non-essential retail remains closed. Similar measures of customer levels for other discretionary sectors show the UK and EU in lock-step at low or close to zero, while staples – ie. Groceries – in the UK are tracking higher significantly higher. Is this evidence of government policy focusing consumer spending on supermarkets with mixed-retail offerings? What will be left for single-sector retail and independents once lockdown ends?
The Huq Index measures footfall across physical stores by industries for both the UK and EU and finds contrasts between the trends in either geography. As stated, clothing retail on the continent is tracking 21% higher than in the UK at 38%. Restaurants, Bars & Cafes are tracking 10% higher than in the UK at 30pts, and Health & Fitness 7% higher at 41pts. This trend is inverted for Supermarkets, where levels in the UK stand at 83pts to Europe’s 44pts. As the end of 2020 approaches and with it the UK’s transition period for exiting the EU, the relative economic performance of either block will come under increased scrutiny. Sign up to receive regular economic updates in near-realtime directly to your inbox.
To learn more about the data behind this article and what Huq has to offer, visit https://huq.io/.
Sign up to receive our stories in your inbox.
Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.
Sign up to receive our stories in your inbox.
Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.
