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Retail workers face money challenges at alarming rate

31 May 2023

A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their... Read more…

Federation of Independent Retailers says more needed to be done to support smaller businesses in Wales

24 May 2023

Whilst it has welcomed some elements of the Welsh Retail Action plan, the Federation of Independent Retailers (the Fed) said more is needed to be done to support smaller businesses.
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Nearly half of customer service staff consider quitting over growing customer abuse

22 May 2023

More than two-fifths (44%) of customer service staff are considering leaving their roles due to increasing levels of cost-of-living fuelled abuse from customers.
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Friendliest high-street businesses include hairdressers and coffee shops, reports new study

22 May 2023

More than half of Britons (55%) say they have received helpful life advice from a local small business owner, new research reports.
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Mixed picture emerging about Coronation effect on retail

9 May 2023

A mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.
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Nominations open for British Business Awards 2023

9 May 2023

Nominations have opened for the 2023 British Business Awards.
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Independent retailers look to loyalty schemes to keep up with supermarkets

9 May 2023

Independent retailers are racing to keep up with rivals and retain customers as the battle for loyalty intensifies among supermarkets.
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Government urged to reinstate Tax Free shopping with UK Retailers missing out as sales surge across Europe

9 May 2023

The European retail sector has enjoyed its best month for international spending on Tax Free goods since the end of the pandemic after sales surged by 40% month on month in March 2023, taking... Read more…

Consumers feel protective of independent shops and want to support them for their ‘social good’

27 Apr 2023

New research has found that consumers feel protective of independent shops and want to support them for their ‘social good’.
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Worldwide retailers seeking new ways to attract shoppers as spending slows

26 Apr 2023

Europe's cost of living crisis has benefited discount retailers, but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said... Read more…

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UK bike sales hit 20-year low but long-term outlook remains positive

Posted on in Business News, Cycles News

The Annual Market Data Report for 2022 from The Bicycle Association (BA) reports annual cycle sales in the UK fell to 1.88 million units in 2022, a 20-year low, 27% below pre-COVID levels in 2019.

cycles parked

Sales of children’s bikes fell 28% below 2019 totals, dropping to 700,000 units sold in 2022. Sales of e-bikes have plateaued in the U.K. since 2020.

The report discusses key drivers shaping the market, including international comparisons between the UK and other markets. Sales in other key markets, including the US, have also been lower than pre-pandemic levels.

Although the outlook for this year remains challenging, it is expected that once the economic outlook has improved and overall supply and demand has returned to a more even keel, the longer-term prospects for the cycling market remain positive.

Commenting on the findings, Jonathan Harrison from the Association of Cycle Traders said:

“This will not come as a surprise to bike retailers, who are more than aware of the challenging economic climate and the effect it is having. However, we believe that by being creative, agile, and customer-focused, the sector will emerge stronger, particularly if together with government and local authorities, we can reinforce cycling’s position as a safe and attractive method of transport.”

The report shows how the UK bike market could recover, including selling more e-bikes, sales of which are far lower than in the rest of Europe.
Addressing this, the report adds, requires increased support and greater focus on cycling’s role in UK economic growth and net-zero strategy with local investment.

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