Clothing accounts for around 5% of the UK's total annual retail expenditure, with consumers spending £44bn a year on clothes - around £1,700 per household and second only to food and drink in terms of expenditure on consumable goods.
A generous estimate of total world retail expenditure is $150 billion.Furthermore, most of the American and West European expenditure on cocaine, heroin and other drugs goes to domestic distributors, representing compensation for the risks of imprisonment and injury incurred in that business.
The report stated: "In our view existing stores across the whole of the Gloucester Road Town Centre could lose a combined total of £7.7m of retail expenditure which would reduce the turnover of the centre by 12%.
According to the farmers' group, 30 years ago farmers received about one third of consumer retail food expenditures. Now they see closer to 22%.
Since 2008, retail pharmacy expenditures increased by 61%, reaching almost $22 billion by 2012 after adjustment for inflation.
These are respectively, the square roots of the retail advertising expenditure ( a_{R} left( t right)^{2} ) and manufacturer's advertising expenditure ( a_{M} left( t right)^{2} ).
Of course, I don't expect that mindset to hold up forever — GigaOM reported late last year that Apple earmarked $7.1 billion for non-retail capital expenditures in 2012, with the implication that a good chunk of it would go to bolstering the company's cloud operations.
"Ms Jackson used the money in the NHDA account for a range of purposes, including part of a divorce settlement, holiday expenditure, retail purchases and cash withdrawals," Tracey said.
Jonathan Anderson at UBS uses one based on production (eg, industry, electricity and construction) and another based on expenditure (retail sales, fixed investment and net exports).
Yet, personal consumption expenditures and retail sales increased at strong rates.
