2023 UK Retail Review

2023 proved to be another challenging year, both globally and nationally. The year was marked by a sluggish economy, escalating inflation, and widespread geopolitical instability, with the prolonged conflict in Ukraine and growing tensions in Israel and Palestine's Gaza capturing global attention.

Within the UK, 2023 brought forth further challenges, including economic stagnation, enduring cost-of-living pressures, consistently high inflation, and ongoing disruptions due to strikes. The UK retail industry, known for its global competitiveness and innovation, faced significant hurdles as consumers grappled with reduced disposable incomes, leading to smaller shopping baskets. In addition, the industry contended with issues such as retail theft, flash robs, and an increase in incidents involving violence against retail employees.

Throughout 2023, Sensormatic Solutions closely analysed footfall trends, shopper sentiments, and shifts in the geopolitical and retail landscape. This report takes a deep dive into:

  • the impact these challenges have had on retail footfall and shopping patterns in the UK, Europe, and worldwide during 2023
  • key findings from Sensormatic's shopper sentiment studies spanning from 2019 to 2023
  • insights from industry experts anticipating developments in 2024
  • and more!

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cover of sensormatic solutions 2023 annual emea retail review report

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