I honestly believe that the effects of a generation of austerity economics have reached high enough up the economic scale to have some serious consequences to many businesses. Ask yourself, when was the last time you received a pay rise % that exceeded all the basic costs around you?
Eventually this will have an effect in your buying decisions, whether it be a car washing service, tennis lesson, holiday or latest fashion for the wardrobe. The level of employment may be high but so many people have nothing to spend on extras at the end of the week. Everything has a cause and effect.