Q4 retail trading review 2021
Retailers often look to Q4 and the festive period as the most important quarter of the year with Black Friday, Christmas and seasonal range changes driving significant proportions of revenue.
2021 has capped off another unpredictable year with many retailers going into the quarter with ‘cautious optimism’ as the COVID crisis looked to stabilise in September / October with signs the vaccine was making inroads. Then Delta and Omicron hit and confidence from both retailers and consumers wobbled.
A straw poll of Project One’s retail customers suggests there was something of a pattern – lowered expectations going into the period, Black Friday was something of a non-event, footfall was own, online traffic was up and the overall picture was ‘ok’ for the season. The final Christmas period result was lower than expected, impacted by the news around Omicron. The only real sector winners being the supermarkets, with increased food sales as more people celebrated at home.