Pent up demand not going to last, Warehouse CEO says

The Warehouse Group chief executive Nick Grayston warns consumer spending is artificially high from pent up demand following the lockdown, and that retailers should tighten their belts. Retail spending bounced back vigorously after the national lockdown was lifted as consumers rushed to make up for lost time. The splurge on everything from lattes to holidays pushed spending back up to near pre-covid levels. Still, the message coming from Warehouse customers was much less upbeat. Almost half of its customers were already cutting back on...