• Retailing sector saw best performance of 2013 as consumers updated their wardrobes and hit department stores looking for presents• 1 in every 5 pounds is now spent on the web, as online spending reaches 21% of all spend• Spending on ‘Black Friday’ up +21% on 2012, driven by +41% increase in spending online, as US savings day takes off in the UK• Average transaction values down +3.3% as savvy shoppers search for value and retailers discount ahead of Christmas
Richard Lowe, Head of Retail & Wholesale at Barclays, comments on today’s SMMT figures.
Cheshire-based fuel specialist ESL Fuels has refinanced its previous overdraft facility with Barclays to a receivables-linked structure that enhances its working capital to £5 million to support the growth of the business.
Michael Rigby, Barclays' Head of Manufacturing, comments on today's PMI figures.
• Online shopping up 10.1% in 2013 compared to 2012, as consumers prepare for a record-breaking Mega Monday of online sales today1• Mega Monday 2012 saw consumers spend an average of £57 per online transaction 2• Almost a third (28%) of Christmas shoppers online said they plan to do the same amount of Christmas shopping in-store and online this year compared to last year, but the majority will be online 3• Three-quarters (74%)of adults have more or the same level of confidence about the wider UK economy in the run up to Christmas this year compared to 2012, but 65% say they still need to be savvy about their spending3
Optare Plc, one of the most established names in the UK bus industry, today announced a £23 million refinance with Barclays.
Richard Lowe, Head of Retail & Wholesale at Barclays, comments on Black Friday's growing influence in the UK.