March was a strange month with more ups and downs than a rollercoaster, however, we finished on a positive note and this has certainly continued into the first week of April.
Lots of positive data came out over the last month too:
🔸The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -12 in March 2024, having dropped back to -25 in February showing the mood of CEOs in the UK economy is rapidly improving.
🔸The Financial Times announced that UK public inflation expectations fell to the lowest in 2 years, a real positive sign and normally a good lead indicator of economic growth.
With such promising indicators, it’s clear that despite the ebbs and flows of activity in Q1. we’re on a trajectory of growth and stability as we move forward into April and beyond – and not before time.
Market Spotlight + Top 5 eCommerce Stories This Month
- H&M experienced a significant boost in operating profit in Q1, nearly tripling to £155 million, resulting in a margin increase of 3.9%. READ MORE
- PDD Holdings, owner of Temu, announced impressive sales figures of £27bn for last year, (nearly double that of 2022) with full-year operating profit soaring by 93% to £6.3bn READ MORE
- Depop has announced an update to its fee structure, will see the elimination of its 10% selling fees for all UK users READ MORE
- Several high street retailers including Sainsburys, Tesco, Greggs, and McDonalds were urged to address legacy issues within their operating systems after they suffered from major IT issues just days apart READ MORE
- The turnover of the B2B market is projected to reach €1.7 trillion by 2025 READ MORE
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