Nearly nine in ten retail businesses affected by the rising cost of living say this has been the “toughest winter in memory” – with record energy costs, expensive raw materials, and reduced customer spending taking their toll.
A poll of 750 retailers, with a high-street presence, revealed 65 per cent have found it harder to run their business compared to recent years – with 87 per cent of these saying the winter months have been the most challenging.
The most common negative impacts reported are rising energy costs (61 per cent), followed by higher material costs (47 per cent) and customers spending less (41 per cent).
