What Trump's Election Means For The UK

📰 Industry News

• Sainsbury’s has said it will match the price of up to 200 Aldi products in its smaller stores as it battles rivals to get more customers in its convenience stores. (BBC News)

• The Post Office expects to have paid out more than £650m in compensation to branch owner-operators by next March after the ITV series about the Horizon IT scandal resulted in a huge spike in claims. (The Guardian)

• Marks & Spencer is set to install self-service checkouts in their changing rooms across its 180 clothing stores, to prevent customers from queuing twice while shopping. (Retail Systems)

• Aldi is set to open 11 new stores across the UK between now and Christmas, with a further 15 existing stores undergoing refurbishments to enhance the customer experience during the crucial festive period. (Retail Week)

• Asda has confirmed 475 roles at their head offices in Leeds and Leicestershire will be cut and hybrid working reduced as part of a business restructure. (BBC)

📉 Trump Takes Office... What It Means For The UK

So, Trump’s back, and the UK’s “special relationship” with the US might feel a little less... special. Labour’s been on a charm offensive to stay friendly with whoever wins, but with Trump now calling the shots, expect plenty of stiff smiles and polite nods. Here’s what a Trump rerun could mean for UK diplomacy, trade, and Labour’s foreign policy balancing act.

Key Points:

• Awkward Diplomacy on Display: Keir Starmer and team are already playing the diplomatic game, but it’s safe to say that calling Trump a “neo-Nazi sociopath” (yes, looking at you, David Lammy) isn’t the strongest foundation for a partnership. While Labour will stay polite on the surface, behind closed doors, they might be quietly wishing for a different outcome.

• Price Hikes & Tariff Tantrums: Trump has vowed to slap a 60% tariff on Chinese goods and a 10% tariff on imports from nearly everyone else, the UK included. The NIESR warns that this could cut UK growth by half over the next two years. British inflation could spike by 3-4%, while interest rates could rise by 2-3% to keep prices in check - yet another hard hit for businesses and households alike.

• Labour’s Balancing Act: With British voters largely favouring Kamala Harris, Labour might find themselves sweating over how to work with Trump without looking too cosy. His views on climate, trade, and social issues are about as aligned with Labour’s like a cat is with a cucumber, so expect careful manoeuvring.

Four more years of Trump means Labour will likely tread carefully to keep this “special relationship” on life support. And for UK businesses with a US connection, it’s time to brace for some potential trade shake-ups. So, is the “special relationship” still intact? Maybe – but only just.

🕺 Is UK Clubbing on Its Last Beat?

Is this the end of UK clubbing? The Night Time Industries Association (NTIA) has issued a stark warning: if nothing changes, the UK’s nightlife scene could be extinct by 2029. With an average of 10 clubs closing every month, the NTIA says it’s a downward trend that, if left unchecked, will see the doors of every remaining club permanently closed by the end of the decade.

What’s Happening?

• Alarming Decline: Since March 2020, 37% of the nation’s clubs have shut down. That’s about 150 closures each year - an average of three clubs every week. Last year alone, the UK club scene took its biggest hit, losing some of the country’s most iconic venues.

• Government Action Demanded: The NTIA, teaming up with McCann London on a campaign called “The Last Night Out,” has called on MPs to step up. Their demands? Long-term financial support, heritage status for landmark clubs like Fabric and Ministry of Sound, and regulatory reform, from business rates relief to VAT and licensing flexibility.

• Cultural Crisis: Industry figures like Michael Kill, NTIA’s CEO, are vocal about the broader cultural loss. Kill says that “losing clubs means losing jobs, culture, and a vital part of the UK’s social fabric.” Sacha Lord, Manchester’s Night Time Economy Advisor, calls nightclubs “the lifeblood of our cities,” central to both social and economic life.

Whether Parliament sees it or not, UK clubbing has been a cornerstone of British culture for decades, shaping music, jobs, and city life in ways that can’t be easily replaced. But with 10 venues closing their doors each month, it’s clear that the scene’s survival can’t be left to wishful thinking alone.

The NTIA’s campaign could be the lifeline clubs need, but without government action, we’re looking at a future where British nightlife history is just that - history.

The question is, will MPs recognise nightclubs as cultural icons worth saving, or will they let them become relics of a past era? Time - and a bit of political will - will tell.

🚨 Asos Continues To Slide

ASOS is fighting to claw its way back, but last year’s earnings drop and cutthroat competition aren’t making it easy. The British online fashion retailer stuck in “reinvention mode,” just posted a painful pre-tax loss of £379.3m - up from last year’s £296.7m, with UK sales down 12%. Rising living costs are prompting shoppers to hold off on yet another pair of baggy jeans, and this morning, ASOS shares slid 8%, hitting a five-month low.

Here’s the lowdown:

Slimming Down the Stockpile

• After Covid left ASOS with a mountain of unsold clothes - £1.1bn worth, to be exact - they’ve been hustling to clear it out by discounting and speeding up their product cycle. The new goal? Fresh styles online in less than three weeks, hoping faster turnover means fewer returns.

Playing Catch-Up in a Cutthroat Market

• Turns out, keeping us hooked on online shopping was easier during lockdowns. Now, ASOS is facing fierce competition from Shein’s rock-bottom prices and high-street brands like H&M and Zara. With revenues down 16% to £2.9bn, ASOS is clearly feeling the squeeze.

Betting Big on Influencers & Topshop Nostalgia

• ASOS is doubling down on influencer marketing, aiming to work with a staggering 1,500 influencers each month. And here’s a throwback: they’re also relaunching a standalone Topshop website, hoping that a dose of British nostalgia can lure Gen Z shoppers back.

So, is ASOS on the way back up? CEO José Antonio Ramos Calamonte insists that “green shoots” are there, but the company is still in shaky territory, and it is difficult to turn around in a tough market. With rivals everywhere, unpredictable spending habits, and a bruised balance sheet, ASOS has its work cut out.

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