The last quarter of the year, also referred to as “the golden quarter” in commercial lore, is an exciting period for retailers. Typically, during the months of November and December, retail sales see the highest activity, and over the past years, retail sales in the United Kingdom (UK) during this period have only seen even more elevated numbers. This spirit of spending safeguards the UK as the top ranking country in Europe in terms of retail sales during the holiday season. Both during the Christmas period and the preceding Black Friday and Cyber Week events, UK retail spending surpasses that of other leading European economies.
Retail events throughout the year
That being said, almost every month in the financial year is an opportunity for the retail sector to lure consumers to shops. Along the path, there are many more milestones like Valentines Day, Mother’s Day, and Easter, as well as the relatively new but increasingly popular ones like Singles' Day.
Following Christmas and New Year’s, Easter is the second biggest occasion for retail sales. Surveys on UK consumers’ Easter spending plans showed that in 2021, the expected Easter budget per capita was lower than the pre-pandemic averages. The pandemic had also obliterated one of the most important retail metrics during Easter 2020: retail visitor traffic. Typically, in previous years, footfall to retail locations such as high streets depended on weather conditions over that bank holiday, which in turn influenced whether or not consumers would be out and about spending. In that regard, Easter 2019 proved to be a good period, whereas Easter 2018 was characterized by negative shopper traffic growth change.
More reasons to shop: Royal events
A large royal event is more than welcome to further rejuvenate the high street in UK retail. Of all the major royal celebrations of the last decade, in addition to being incentives for tourism, events like the Queen’s Diamond Jubilee and the wedding of Prince William and Kate Middleton generated millions of pounds across a variety of industries. The Queen’s Diamond Jubilee, which coincided with the 2012 London Olympics, led to an estimated 170 million British pounds of memorabilia sales alone.
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