The Guardian And BBC News: Duncan Brewer Comments On The Effects Of the General Election On Consumer Sentiment And Retail In 2020

Duncan Brewer, Retail Partner, spoke to The Guardian and BBC News on the November Office for National Statistics (ONS) retail sales.

With high street sales slumping in November in the weakest period for consumer spending for more than a year, Duncan said: "The general euphoria of a Conservative majority and a better exchange rate for the pound may lead to more spending over Christmas and in the New Year."

However, Duncan added that this uplift for consumer spending "will likely only be short-lived".

"Despite more temporary political stability and low unemployment, we expect that at least two major well-loved British retailers will go bust over the course of next year, and that 100,000 jobs will be cut across the sector due to a combination of overall stagnated spending, cost-cutting and increased automation," he said.

Read The Guardian’s full article here, and the BBC’s full article here. Discover more from of our Retail and Consumer Goods practice here.