My last post predicted how the retail sector would fare during the Olympics both in the capital and beyond. A week into The Games, some of my thoughts were correct and some were sadly far off the mark, however I am not sure anyone could have predicted what has happened this week. I was optimistic that both bricks and mortar retailers and e-tailers would benefit from the influx of tourists and the domestic consumer working from home, all of whom were eager to spend; unfortunately this is not the case.
Despite desperately disappointing growth forecasts from the Bank of England today, a number of retail sectors are predicted to enjoy an Olympic li...
I have been intrigued by the media articles showing distraught West End shop keepers and restaurateurs bemoaning the Olympics for emptying their emporia of customers. It seems that the promise of economic prosperity for all driven by the magic Olympic rings has evaporated as quickly as Mark Cavendish's medal hopes. Or has it?
When the recession hit in 2007, the majority of economists and retail commentators predicted that the luxury retail market would not fare well, but five years on it has not only survived, but prospered. Only last month Burberry Group posted a 24 per cent surge in its 2011 profits and Richemont (the third largest luxury group and owner of Cartier) posted a sharp increase in sales of €2.62bn.