Retail and hospitality businesses have endured another rollercoaster year. Supply chain woes, an HGV driver shortage, higher raw material costs, wages and utility bills, post-Brexit trade wranglings, and even a shortage of carbon dioxide, posed unprecedented challenges for businesses like restaurants, pubs, supermarkets and clothes shops.
But, businesses have also been able to benefit from the unleashing of pent-up demand among consumers released from lockdowns. Now they’re wondering what is in store for Britain’s retail and hospitality businesses and their customers in 2022.
Strength of recovery
Most experts think that while uncertainty remains, retail and hospitality businesses will continue to recover in 2022. But, prices for consumers look set to rise as companies grapple with soaring costs. Figures from the Centre for Retail Research suggest retail sales will increase by 4.5 per cent next year, against a 4.1 per cent uplift predicted for 2021.
Andrew Busby, founder and chief executive of Retail Reflections, says: “The retail sector will continue to recover, but it will…
