Tuesday 31 January 2023

Consumers starting to cut back

Ha! Tell me about it!

'You're still eating takeaways, boss. They're expensive.'

Well, that's because I'm addicted to chips.

Anyway ... from Wealth Club ...

The Office for National Statistics has reported retail sales figures in Great Britain for December:

Retail sales volumes are estimated to have fallen by 1% in December 2022 following a fall of 0.5% in November.
Total non-food stores sales volumes (department, clothing, household and other non-food stores) fell by 2.1% over the month.
Online spending values fell by 2.9%.

Oh, non-food stores. 'No mention of chips.' No.

Maybe our Charlie will mention them. I know there's nothing our Charlie likes more than a big plate of chips.

Charlie? Come on, son!

Charlie Huggins, Head of Equities at Wealth Club comments:

"The decline in retail sales volumes accelerated in December, with consumers starting to cut back on spending because of increased prices and affordability concerns.

"Online sales were particularly weak as the absence of lockdown restrictions, and the Royal Mail strikes encouraged more last minute shoppers into stores.

"However, the real test for retailers will be what happens in 2023.

"Pressure on UK consumers is mounting and is likely to build in the coming months. With many people on fixed rate mortgages, the impact of interest rate rises has yet to be really felt. 

"It's times like these that tend to sort the wheat from the chaff. Retailers must be able to generate profit and cash, while offering customers value for money. If not, they risk following the same path as Joules and Made.com."

ENDS

Fair enough. He's keeping quiet about the chips. 'Maybe he thinks chips are vulgar.' Oh, but he doesn't mind eating them though, does he? Every bloody night! 'With curry sauce!' Yeah, with curry sauce - which I can't have, by the way. Apparently, it's not vegetarian.

Never mind.

ENDS
ENDS
ENDS

...

Anything else?

Music? To be honest with you, dear reader(s), I don't think they have chips in Malibu. Probably just fries. Maybe I should quit music then. I don't know.

Actually, being realistic ... my song Malibu is the third best song about California, yes. The first and second are Hotel California and Californication. Just saying, like. I don't care. Malibu is only in tenth place in my BIG DOZEN.

My demo? I think it's a good idea putting Round the Bend on the demo. Not only is it my best recording, but it's my most exciting song to listen to, and it's under three minutes. We all know what the internet is like. If people get into that song, maybe they'll spend the time to listen to Mighty Soul and Shady, Dodgy, Shifty which are both close to five minutes long.

Do you know what I mean?

Laters!