RETAILERS are set to lose £5.6bn after reporting heavy losses due to supply chain disruption.
According to
Supply chain issues have been blamed, with
A perfect storm of supply chain challenges meant that retailers are less keen to offer Black Friday deals this year. Some 76 per cent of retailers who usually offer discounts said they would not offer as many this year.
Nearly three in four
"Retailers are striving to meet demand, maximize revenue potential, and find efficiencies as they continue to face unprecedented supply chain disruptions. They are also encouraged to support key suppliers upon which they depend," said
Businesses said they were gloomy about the future beyond Christmas.
Nine out of 10 retailers believe revenue will continue to be hit by supply chain challenges for at least the next six months.
(c) 2021 City A.M., source