Latest / Early Edition with Ryan Bridge / Chris Wilkinson: First Retail Group Managing Director on sluggish retail spending

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Chris Wilkinson: First Retail Group Managing Director on sluggish retail spending · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: So we're being more careful with our money. This is
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  Speaker 1: card spending data, official stats out yesterday, seasonally adjusted down
• 0:06
  Speaker 1: one point four percent in June compared with May. We
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  Speaker 1: were up slightly actually on the previous same month previous year.
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  Speaker 1: Big hits A hospit down one point nine, apparel down
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  Speaker 1: two point two, even fuels down one point seven. Chris Wilkinson,
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  Speaker 1: First Retail Group Managing direct with me this morning. Chris,
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  Speaker 1: good morning, Hey Ryan, how are you very well? Thank you?
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  Speaker 1: So we're spending, we're saving on the petrol, but then
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  Speaker 1: we're not going out and blowing it on discretionary.
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  Speaker 2: Yeah. People have been very cautious at the moment.
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  Speaker 1: Which is fair enough, isn't it. How is that impacting
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  Speaker 1: retailers though?
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  Speaker 2: Ah, look, I think the retailers, you know, they've had
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  Speaker 2: they've had some big challenges around cost increases. Distribution costs
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  Speaker 2: have been seen right across our retail categories. So they're
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  Speaker 2: fighting it a couple of a couple of fronts at
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  Speaker 2: the moment.
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  Speaker 1: What can you actually do about that? For if you're
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  Speaker 1: a retailer, because as you said, your costs her up,
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  Speaker 1: so your instinct speed to discount, but then you're undermining
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  Speaker 1: your business. What do you actually do to keep the
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  Speaker 1: money that is there in your shop?
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  Speaker 2: Yeah? Yeah, you just have to be hungry. You really
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  Speaker 2: have to go for your unfair share of the market. Good,
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  Speaker 2: strong retail disciplines, be there, be open, love your customers,
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  Speaker 2: and those are the simple fundamentals retailers need to remember.
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  Speaker 1: Good stuff. Chris GOODTEV on the show is always That's
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  Speaker 1: Chris Wilkinson. First Retail Group with us this morning. For
• 1:30
  Speaker 1: more from Early Edition with Ryan Bridge, listen live to
• 1:33
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• 1:37
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