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Retail Community

Stay up to date with the latest developments in the retail industry. This community is for finance professionals working in, or advising clients in, either the physical or online retail sector.

Industry trends and statistics

Trends, insights and statistics in retail

Discover the latest predictions for the future of the retail industry along with insights into what has been happening. Find out how Brexit is affecting the retail sector.

What now for retailers?

High Street exits remain at historic high as openings slump to lowest levels on record.

PwC 2019 Retail Outlook report

PwC forecast retail growth in 2019 will be about winning share. For more on how to win in this environment and predictions for retail in 2019, read on. This report accompanies the ICAEW Retail Community Webinar recorded in association with PwC (see "Featured items")

UK retail prospects in 2019

Report on the KPMG/IPSOS Retail Think Tank review of prospects for the retail industry in 2019.

Deloitte Retail Trends 2019

Annual Deloitte outlook on trends in retail sees an industry in transformation, with new channels driving growth as old channels decline.

Retail sales from the ONS

Information from the Office for National Statistics of sales by UK retailers. Includes spending on goods in store and online as well as spending on services.

Retailers in distress

With some high-profile businesses hitting the rocks, it’s time to take a fresh look at how to head off crisis.

The Grimsey Review 2

This report revisits the first review (published in 2013) to see what has changed on the high street since then, what has worked, what hasn’t worked, where we are today and what we should do now to improve our high streets and town centres.

Electrical retail industry

Guide to researching the electrical appliance retail industry. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.

Fashion industry

Guide to researching the fashion industry, including clothing and footwear manufacturing and retail. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.

Food retail industry

Guide to researching the food retail industry, including supermarkets and specialist stores. Quick links to trends, forecasts, market research, regulations, statistics and useful organisations.

Global Powers of Luxury Goods

Deloitte's 2018 review of the luxury goods industry as sales growth bottoms out, profit margins resilient under pressure, and M&A activity heats up.

Financial reporting

Accounting for leases (IFRS 16)

IFRS 16 Leases

IFRS 16 prescribes a single lessee accounting model that requires the recognition of asset and corresponding liability for most leases.


The publication of IFRS 16 Leases has been demystified with the creation of an ICAEW guide.

Accounting of inventories (IAS 2)


The accounting standard IAS 2 sets out the accounting treatment for inventories and provides guidance on determining their cost.

IAS plus on IAS 2 - Inventories

Overview of IAS 2 provided by PwC, giving latest developments and overview, a summary of the standard and links to relevant resources.

Stock accounting valuation

Discussion on establishing a basis for estimating stock for the purposes of monthly management accounts.

Revenue recognition (IFRS 15)


IFRS 15 provides a single, principles-based five-step model that should be applied to determine how and when to recognise revenue from contracts with customers.

Payments and the supply chain


Retail payment systems and payment costs

The Centre for Retail Research provides an overview of the payment systems used in retail and traces some of the problems that have been encountered.

The future of payments

The last five years have seen major shifts in how consumers pay for goods and services. With the internet and e-commerce (electronic commerce) continuing its meteoric rise, and smartphones offering a myriad of new ways to pay, businesses and their accounting partners have had to adapt to this new world of e-payments (Electronic Payments), as consumers continue to demand new ways to pay.

Cryptocurrencies and blockchain

Accounting for cryptocurrencies under FRS 102

The purpose of this technical helpsheet is to consider both the potential accounting treatments under FRS 102 and the presentation of cryptocurrencies within the financial statements. It should be noted that this is an emerging area and practice will no doubt evolve over time.

The future of cryptocurrencies

Proponents of cryptocurrency describe it as the future of payments. But, says Paul Golden, a number of important issues remain to be addressed before digital virtual currencies are fully embrace

Insolvency and restructuring


ICAEW is the largest insolvency regulator in the UK. We offer the opportunity for ICAEW Chartered Accountants and non-ICAEW members to qualify and be licensed as insolvency practitioners with us. We also offer a comprehensive programme of support for our current and future insolvency practitioners including membership to our Restructuring & Insolvency Community.

Company Voluntary Arrangements: An effective tool for business rescue?

This R3 and ICAEW sponsored research carried out by Professor Peter Walton and Dr Lezelle Jacobs of the University of Wolverhampton and Chris Umfreville of Aston University was published in May 2018. The research looks at the outcome of the 552 CVAs started in 2013 and makes eight key recommendations.


Business rates

How do business rates work?

Business rates are a major tax on business, but might be overlooked by accountants. They are excluded from the tax expense shown in accounts and might not be considered as part of tax planning. Find out more about the current UK business rates regime, including how rates are calculated and why is it hard to know exactly what a business owes.

Reforming property taxes for business – what are the options?

Taxing business properties form an important part of the tax base for many countries, but they are often complex and in an increasingly online world can be irrelevant to an organisation’s turnover. The time has come to overhaul business property tax systems and here ICAEW outlines the options.



Expert commentary and practical guidance from ICAEW related to VAT under the UK tax regime.


The first stage of HMRC's Making Tax Digital (MTD) programme focuses on VAT and imposes new requirements keeping on some VAT registered businesses and organisations from April 2019.

VAT Clothing

HMRC internal manual on determining the liability of supplies of clothing and footwear as written in Group 16, Schedule 8, VATA 1994. The guidance was produced for HMRC staff and 'should not be relied upon by businesses when calculating their taxes and/or duties'.

Industry press and ebooks

The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of ICAEW membership. If you are unable to access an article, please see our Online resources troubleshooting or contact library@icaew.com


The state of the UK energy retail market

A look at current issues impacting the energy retail market, including the energy price cap and small supplier struggles.

The Aldi effect: how one discount supermarket transformed the way Britain shops

When Aldi arrived in Britain, supermarkets felt they had nothing to worry about. Three decades later, they know better.

Shopping for fashion retail's self service future

Self-service checkouts are being trialled in-store by fashion retailers, including Nike and Zara.

AWS vs Google vs Microsoft: Competition fears fuel retail war between cloud giants

Competitive concerns appear to be influencing retailers' cloud-buying decisions, writes Caroline Donnelly.

Terms of use: You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

The Library & Information Service provides a hand-picked collection of eBooks as a benefit of membership. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com

Building a narrative

This chapter explains how to build a persuasive business story, with case studies from Uber, Ferrari, Amazon and Alibaba.

Reliefs from import duty

This chapter covers the schemes which offer goods relief from EU customs duty.

Inscrutable shopper: consumer resistance in retail, The

Consumer behaviour from a US perspective.

Store design and visual merchandising: creating store space that encourages buying

Store design optimisation from a US perspective.

Competing in tough times: business lessons from L.L.Bean, Trader Joe's, Costco, and other world-class retailers

A guide to winning business strategies for retailers.

Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.

Raising finance

Events and training

Free Webinar: Capital Allowances

Autumn Budget 2018 announced a suite of measures in relation to capital allowances. Join us for this informative webinar which will unpick the new rules.