UK weather forces retailers to offer discount on winterwear. Details here
As the UK's warm weather continues, shoppers are delaying purchasing their winter garments. This trend is worrying retailers.
By ET Spotlight Special |
Agencies
In recent weeks, the United Kingdom has seen temperatures substantially above average during a hot fall for the entire northern hemisphere. Met Office statistics indicate that last month was the fifth warmest October since records began in 1884, and forecasts predict that temperatures could reach 18 degrees in some parts of the country this week.
As a result, British consumers postponed purchasing coats, boots, hats, and other cold-weather apparel, aggravating an already struggling retail industry.
Rishi Sunak: 5 interesting facts about UK’s Prime Minister
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Sunak is the UK's youngest prime minister in 200 years. In his place stood William Pitt, who took over the position in 1783 at the age of 24.
Sunak is the UK's youngest prime minister in 200 years. In his place stood William Pitt, who took over the position in 1783 at the age of 24.
Rishi Sunak is the UK's first Hindu-origin prime minister. His Indian parents, who had immigrated to the United Kingdom from East Africa in the 1960s, gave birth to him in the United Kingdom.
Rishi Sunak is the UK's first Hindu-origin prime minister. His Indian parents, who had immigrated to the United Kingdom from East Africa in the 1960s, gave birth to him in the United Kingdom.
He is married to Akshata Murthy, an Indian fashion designer and businesswoman based in the United Kingdom and the daughter of Infosys founder NR Narayana Murthy.
He is married to Akshata Murthy, an Indian fashion designer and businesswoman based in the United Kingdom and the daughter of Infosys founder NR Narayana Murthy.
His estimated net worth is $830 million, which is more than Queen Elizabeth II's.
His estimated net worth is $830 million, which is more than Queen Elizabeth II's.
Sunak was appointed Prime Minister seven years after being elected as a member of parliament in 2015. Despite the fact that David Cameron became Prime Minister after only nine years, Pitt the younger still holds the record with only two years.
Sunak was appointed Prime Minister seven years after being elected as a member of parliament in 2015. Despite the fact that David Cameron became Prime Minister after only nine years, Pitt the younger..
Many fashion designers launch the following season's ranges well before the season's arrival; therefore, an Indian summer lasting into September or even October could necessitate a discount on the autumn/winter ranges to meet sales goals.
The Met Office estimates that a two-degree reduction in minimum temperature can boost retail sales by almost 6 per cent. Luxury British brand Joules blamed mild fall weather for a drop in coat and wellington sales yesterday.
The British Retail Consortium (BRC) reported that non-food retail sales fell 1.2 per cent overall and 1.8 per cent like-for-like in October, compared to 3.7% growth over the past year.
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Duncan Brewer, a partner in EY's retail & consumer products practice, says milder weather has affected buying decisions, but there are many additional factors. People have realized they overspent over the summer and are saving for Christmas, which will be the first without restrictions in two years. People are increasingly referring to Black November, not Black Friday.
FAQ:
Why are temperatures rising in the UK? This unseasonal warm weather is due to global warming.
What is the Black Friday sale? It is the Friday after Thanksgiving and marks the start of the festive shopping season.