"Consumer spending is facing a dramatic challenge, and retailers' costs are also rising. Will this short-term shock be enough to derail investors' rising enthusiasm for retail assets?"

"Footfall and spend rebounded quicker in 2021 compared to reopening periods in 2020, following widespread pent-up demand and vaccination confidence"

"The phased reopening of the retail and leisure market has prompted significant footfall improvements, albeit the gap to 2019 levels persists"

"Yields are static, but trending downwards"

"Retailer trading statements delivered a much expected mixed bag of results over the Christmas period"

"Consumer confidence remains suppressed with the second national lockdown underway ahead of the Christmas period"

"While the easing of lockdown has supported footfall improvements, unemployment remains a major challenge to the retail sector"