Retail and eCommerce Round-up
UK Retail Sector Records Fastest Quarterly Growth on Record
Source: The Guardian
As social restrictions are lifted, the economy is showing signs of a positive recovery. Retail was dealt a cruel blow by lockdowns which led to the likes of Debenhams closing their doors forever. But some good news has come for retailers, with the industry recording its fastest quarterly growth on record. BRC, the trade body that represents retailers said “retail sales were 13.1% higher in June than in the same month two years ago, while the total for the second quarter of 2021 was 10.4% up on the same three-month period of 2019.” This growth can be linked to the lifting of social restrictions, an increase in staycations, warmer weather and the Euro 2020 tournament. This surge in high street shopping has led to a consequential dip in online shopping, as people get a much-needed fix of retail therapy.
Retailers in Emergency Talks as Driver Shortage Threatens Grocers
Source: Retail Gazette
The UK government held an emergency meeting with retailers, wholesalers and logistics groups in response to the huge lorry driver shortage. The shortage, which adds up to roughly 100,000 drivers, has been triggered by the global pandemic and Brexit, resulting in a disrupted supply chain for retailers. For instance, Tesco announced that the driver shortage has created 48 tonnes of food waste every week, the equivalent of two truckloads. No concrete plans to combat this shortage have been revealed yet, but DEFRA is weighing up the option of listing drivers on the official shortage occupation list to bring in more workers from overseas.
Amazon is Largest Corporate Buyer of Renewable Energy in U.S.
Source: TameBay
As the top online retailer, Amazon has a big weight on its shoulders to combat global warming. The eCommerce powerhouse has already achieved the status of the largest corporate buyer of renewable energy in Europe, and now it’s risen to the top in America too. Investing heavily in a sustainable future, Amazon now has 232 global renewable energy projects worldwide, including 85 utility-scale wind and solar projects. The global giant has also invested heavily in electric vehicles and is pioneering other methods of reducing its carbon footprint such as drone delivery.
“We’re driving hard to fulfill The Climate Pledge — our commitment to reach net-zero carbon by 2040, 10 years ahead of the Paris Agreement. Our investments in wind and solar energy in the U.S. and around the world send a signal that investing in green technologies is the right thing to do for the planet and citizens — as well as for the long-term success of businesses of all sizes across all industries everywhere.”
– Jeff Bezos, Amazon founder and CEO
Consumer Confidence Remains Stable in June
Source: The Retail Bulletin
With social restrictions gradually being lifted, June marked a turning point for many industries including retail and hospitality. New data has shown that consumer confidence has remained stable in the first month of summer. Consumers had more freedom to shop on the high street and book hotels, leading to an increase in spending. Experts argue that consumer confidence has been growing and this upward trajectory is still on track as we move closer to the end of social restrictions and a return to business as usual.