Tariff carnage could hit Britain's already battered High Streets, warns the British Retail Consortium

Retail Sector Braces for Potential Shopping Slowdown Amid Tariff Concerns

Uncertainty surrounding tariffs could diminish consumer desire for shopping, the British Retail Consortium (BRC) has cautioned. This warning comes as the retail industry navigates economic headwinds and fluctuating consumer confidence.

The trade body reported a 5.4 percent decrease in retail footfall during March compared to the corresponding period last year. This decline was partially attributed to the earlier timing of Easter holidays in 2024, which skewed the figures.

High Street Businesses Express Concerns Over Economic Uncertainty

However, leaders of struggling High Street businesses are increasingly concerned that economic disruption, potentially exacerbated by international trade policies, could further erode already fragile consumer sentiment.

Helen Dickinson, Chief Executive of the BRC, stated, ‘Global uncertainties stemming from tariffs and the prospect of an economic deceleration may dampen enthusiasm for shopping excursions in the months ahead.’

Consumer Confidence Remains Stagnant

Separate research from Deloitte indicated that consumer confidence remained unchanged in the first quarter of the year. This finding intensifies anxieties for the High Street, already grappling with increased operational costs, including recent rises in National Insurance Contributions and other fiscal measures introduced.

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Ian Stewart, Chief Economist at Deloitte, commented, ‘In an environment marked by significant global instability, a more reserved UK consumer is likely to limit the capacity of businesses to transfer increased salary and overhead costs to consumers.’

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