U.K. and U.S. retailers are reportedly finding that deep discounts aren’t enough to woo consumers. “Even the strongest and highest profile brands up and down the country are struggling,” said Julie Palmer, a partner at British consulting firm Begbies Traynor Group, told Bloomberg News in an interview published Sunday (March 24). She cited a “difficult macroeconomic environment, reduced discretionary consumer spending, higher interest rates and renewed supply chain challenges.” According to the report, retailers in the U.K. are suffering following a lackluster holiday shopping season, with total sales growing just 1.7% in December, compared with about 7% in 2022. And in the U.S., consumer spending began the year weaker than anticipated, with defaults in the retail sector of the U.S.…
