High winds & heavy rain in Q1 2018 kept shoppers at home. Another reminder that getting online is key to staying competitive, whatever the weather.
Whilst the ‘Beast from the East’ may have brought with it broken umbrellas and rained-off weekends, industry reports show that for the UK economy, it’s meant far more than just that.
The EY ITEM Club has cited the bad weather as being the key contributor to a halving of UK economic growth in the first quarter of 2018.
Coupled with sluggish Christmas sales - down 0.4% from 2017 - the retail sector has been hit hard – nowhere more so than on the high street.
Rainy days and harsh winds seem to be keeping shoppers at home. So much so, that when the bad weather blows over, EY is forecasting a Q2 rise in gross domestic product (GDP) of between 0.2% and 0.3%.
A gloomy forecast for all?
Not necessarily. High street losses only go to further illustrate what we already know. That however turbulent the market may be (or the weather), businesses need reliable, resilient and always-on sales channels. For many on the high street, that means getting online. And for those already there, it’s yet another reminder that maximising online presence can make all the difference in even the most turbulent of times.
Cashflows powers online card acceptance. If you’re looking to get online or want to learn more about our services contact sales@cashflows.com
