High-street

The rain meant no one did any shopping at Easter

And high street stores are bummed

The rain was bad news for the UK high street. It'd hoped a recent run of really, really bad sales would be boosted by the long weekend, but everyone stayed indoors. Because, well, it was raining.

What it means: The UK high street is having a tough time. Stores are closing down everywhere. They're juggling high taxes (or business rates), low spending ('cos noone has any money) and a rising minimum wage (so they have to pay staff more). They were looking forward to Easter: the long weekend normally means people get out and buy stuff, but nope.

In fact, compared to 2017, there were 13.9% fewer visitors to high street stores by midday.

Whether or not you choose to go out and buy something has a huge effect on a business. If that business folds, people lose their jobs, it can't pay off any debts, and that has a ripple effect through the whole economy.

That's why economists are so obsessed with consumer spending. Take interest rates: one of the main reasons central banks lower the charge you pay when you borrow money is to encourage you to go out and spend it, rather than save. They just need to work out how to control the rain.

Recent articles

Reader Comments

  • ClawV23

    So they’re more or less becoming homeless on purpose and taking advantage of people’s kindness? That’s very disappointing, I’ve always imagined myself walking on the path of the monk but my idea of a modern monk was to achieve a level of independence at which I can grow my own food on a piece of land I own, make my own hemp clothes and live in a small log cabin somewhere outside civilization instead of begging people for a bowl of food.