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Chris Wilkinson: First Retail Group Managing Director on sluggish retail spending · Best of Business

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  Speaker 2: So we're being more careful with our money. This is
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  Speaker 2: card spending data, official stats out yesterday, seasonally adjusted down
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  Speaker 2: one point four percent in June compared with May. We
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  Speaker 2: were up slightly actually on the previous same month previous year.
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  Speaker 2: Big hits A hospit down one point nine, apparel down
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  Speaker 2: two point two, even fuels down one point seven. Chris Wilkinson,
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  Speaker 2: First Retail Group Managing Direct with me this morning. Chris,
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  Speaker 2: good morning, Hey Ryan, how are you very well? Thank you.
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  Speaker 2: So we're spending we're saving on the petrol, but then
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  Speaker 2: we're not going out and blowing it on discretionary Yeah.
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  Speaker 3: People have been very cautious at.
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  Speaker 2: The moment, which is fair enough, isn't it. How is
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  Speaker 2: that impacting retailers though?
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  Speaker 3: A look, I think the retailers, you know, they've they've
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  Speaker 3: had some big challenges around cost and creases. Distribution costs
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  Speaker 3: have been seen right across our retail categories. So they're
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  Speaker 3: fighting it a couple of a couple of fronts at
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  Speaker 3: the moment.
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  Speaker 2: What can you actually do about that? For if you're
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  Speaker 2: a retailer because, as you said, you costs her up,
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  Speaker 2: so your instinct must be to discount. But then you're
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  Speaker 2: undermining your business. What do you actually do to keep
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  Speaker 2: the money that is there in your shop?
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  Speaker 3: Yeah? Yeah, you just have to be hungry. You really
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  Speaker 3: have to go for your unfair share of the market.
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  Speaker 3: Good strong retail disciplines, be there, be open, love your customers,
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  Speaker 3: and those are the simple fundamentals retailers need to remember.
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  Speaker 2: Good stuff. Chris Gootv on the show is Always That's
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  Speaker 2: Chris Wilkinson. First Retail Group with us this morning.
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