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How can business help solve society’s biggest challenges? Welcome to Take on Tomorrow, the award-winning podcast from PwC that examines the biggest problems facing society and the role business can—and should—play in solving them. Hosts Femi Oke and Lizzie O’Leary talk to industry innovators, tech trailblazers and visionary leaders from around the globe about timely topics: from the climate transition to AI and data; and from the future of food to how we build, move and power the world.
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Diane Wehrle CEO at Rendle Intelligence and Insights joins Simon for their monthly chat about footfall trends. July retail data shows positive signs with spending down only 1.4% compared to 8.5% in June, though footfall decreased by 1.7% as consumers remain cautious with their spending. The warm weather has encouraged more UK residents to holiday at home, redirecting spending into local economies rather than abroad.
• Five key retail sectors (fashion, food and drink, general retail, grocery, health and beauty) all showed improvement in July
• Fashion rebounded from being 10.8% down in June to just 3.2% down in July
• Employment is up 0.7% year-on-year to 4.7%, with youth unemployment rising 14.1%
• Interest rate reductions benefit mortgage holders but impact savers
• The approaching "Golden Quarter" (Halloween through Christmas) will be challenging but crucial
• Early and extended discounting is likely as retailers may over-order based on July's improved performance
• Weather continues to be a significant factor in retail performance
Looking ahead to August, if the good weather continues and staycations remain popular, we might see further improvements in retail spending figures
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Chapters
1. Introduction and Positive Retail News (00:00:00)
2. Weather Impact on UK Retail Spending (00:01:54)
3. Retail Casualties and Market Evolution (00:04:06)
4. Economic Headwinds and Youth Unemployment (00:05:49)
5. Looking Ahead to Golden Quarter (00:07:12)
6. Discounting Predictions and Closing Thoughts (00:09:24)
300 episodes
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