Retail – economic outlook 2025

Event information

In 2024, the retail industry faced significant challenges shaped by a complex mix of economic pressures, evolving consumer behaviours, and operational demands. From navigating cost pressures and shifting consumer priorities to adapting to a volatile economic landscape, retailers have shown remarkable resilience. While inflation eased slightly, its long-term effects continue to strain consumer finances, with many remaining cautious. So, what will be the key economic drivers in 2025 and how can retailers remain agile for what’s ahead?

Jacqui Baker, Head of Retail at RSM UK, Thomas Pugh, Economist at RSM UK and Rajiv Thakrar, Retail Finance Director, will offer insight on the economic outlook for the year ahead. They will also bring the latest from their Consumer Outlook 2025 report which identifies key shifts in spending habits, showing how consumers are rethinking their priorities.

Key benefits

• Hear about the current economic headwinds facing retailers including inflation, labour market shifts, and energy costs, and their potential impact on business operations.
• Unpack consumer insights. Discover key consumer insights, focusing on changing spending habits and the reprioritisation of consumer needs.
• Stay informed about emerging economic and operational challenges and learn how to build resilience for the year ahead.

About the speakers

	Jacqui Baker, Partner, Head of Retail, RSM Jacqui is RSM’s national head of retail and brings in-depth industry knowledge. As Chair for ICAEW’s retail community and an active member of British Fashion Council’s patron group, Jacqui is well versed in the ever-evolving retail landscape. This, coupled with her experience of working with retail businesses of all shapes and sizes, means she has a deep understanding of the opportunities and challenges that retailers face. Jacqui’s passion for retail goes beyond the office. She is a retailer herself and her womenswear store was shortlisted in the Best New Retailer category of the Drapers Independents Awards.
	Tom Pugh, Economist, RSM Tom is RSM UK’s economist. He provides economic insights from a middle market perspective, to both RSM UK and its clients. Tom works closely with RSM UK partners across the UK, as well as with colleagues in the US to monitor how changes across the pond could affect the local market. After graduating from the University of Manchester in 2009, he went to work for HM Treasury. This was right in the middle of the financial crisis, so he was assigned to help redraft the banking regulations. He then spent eight years at Capital Economics, where he first covered commodities (mainly oil), then the UK economy in the wake of Brexit and the onset of the pandemic.
	Rajiv Thakrar, Retail Finance Director Rajiv was, until recently, the Director of Group Finance at Monsoon Accessorize. He helped to define the retailer’s customer payments strategy, re-shaped finance resources around key entrepreneurial initiatives to fuel Monsoon’s growth agenda and delivered significant cost savings across an array of spend categories. Coupled with his membership of the ICAEW’s retail community, Rajiv offers valuable insights in fashion retail. During his time at PepsiCo, Rajiv delivered a major SAP implementation, led the integration of the Pipers Crisps business and also managed the carve-out work for the sale of Tropicana to a private equity buyer.

CPD hours

ICAEW's revised Continuing Professional Development (CPD) Regulations bring in new CPD requirements. This includes a minimum number of hours and an ethics requirement. Attending this webinar could contribute up to 1 hour of verifiable CPD, providing you can demonstrate that the content is relevant to your role.

A copy of the webinar booking confirmation email is accepted as evidence of verifiable CPD. You will need to save the email as a JPEG or PDF before uploading it to your record. Click here to use ICAEW’s self-assessment tool to help you work out how much CPD you will need to fulfil each year.

Costs

ICAEW members and non-members are welcome to join. This event is organised by the ICAEW Retail Community. Please click here to join online.