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Bira warns of 'troubled times ahead' despite interest rate cut

7 Feb 2025

ACT parent company Bira has warned that retailers across Britain face troubled times ahead despite today's Bank of England interest rate cut to 4.5%, as the Bank halves its growth forecast for... Read more…

Free webinar exclusive to ACT members on employment law compliance

4 Feb 2025

The ACT and legal partner WorkNest are hosting an exclusive webinar on how to remain compliant with employment law while making necessary business changes.
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ACT parent company Bira urges Government action as December sales disappoint

23 Jan 2025

ACT parent company Bira is calling for urgent government intervention following disappointing December retail figures, which show sales volumes fell by 0.3% following a modest 0.1% rise in... Read more…

ACT announces new partnership with legal specialists WorkNest

17 Jan 2025

The ACT has teamed up with employment law, HR, and health and safety experts WorkNest as the association's new legal partner.
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Bira comments after BRC release Sensormatic IQ Footfall Monitor Report for December

9 Jan 2025

ACT parent company Bira has warned that disappointing footfall figures for December show mounting pressures on independent retailers, with concerning implications for 2025 as business costs... Read more…

2024 year in review: A message from ACT Director Jonathan Harrison

18 Dec 2024

Director of the ACT Jonathan Harrison has praised the "resilience and adaptability" of the ACT and its members in an end of year message.
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Practical steps to prevent credit card and payment fraud as an independent cycling retailer

4 Dec 2024

As credit card fraud becomes increasingly sophisticated, taking these steps could help you stay ahead of the fraudsters…
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Scottish retailers call for urgent business rates support as gap widens with rest of UK

29 Nov 2024

Scottish independent retailers, including those in the cycling sector, are urging the Scottish Government to provide crucial business rates relief in its upcoming budget, as the disparity in... Read more…

Bira and ACT welcome new House of Lords report on high street regeneration

28 Nov 2024

Independent retailers back call for local leadership and simplified funding.
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Seven-in-ten cycle traders boycott Black Friday as cost pressures mount

26 Nov 2024

Seven in ten cycle retailers across the UK will boycott this year's Black Friday sales event, according to a survey of the bicycle trade by the ACT.
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High Street Faces 'Unprecedented Challenges' says Trade Association

Posted on in Business News

The British Independent Retailers’ Association (Bira) has reacted to data released by PwC and the Local Data Company exploring the state of the UK retail landscape.

High street

The high street faced 'unprecedented challenges' following the news of a decrease in stores across the country in 2023. Despite the rise in new outlets opened by UK chains, the closure of stores continues to outpace openings, resulting in a net decrease of 5,000 stores.

Andrew Goodacre, CEO of Bira, expressed concern over the challenges facing independent retailers:

"Further evidence of how difficult it is for retailers on the high streets in the UK. Our own recent survey also showed more than 50% of indies were concerned about 2024. We disagree that store closure was a result of a long-term trend of people moving online because since Covid restrictions were lifted in 2021, online sales have fallen. We believe store closures have occurred due to the cost-of-living crisis reducing consumer spending and the ever-increasing costs of running a shop, with many indies saying enough is enough."

The figures reveal a concerning trend with a daily closure rate of 14 stores, underscoring the challenges faced by both retail and service industries amidst the growing preference for online shopping. Despite 9,138 new openings last year, primarily driven by hospitality sites such as drive through coffee shops and fast-food restaurants on out of city centre areas, the closure of major chains such as Wilko, Lloyds Pharmacy, and Paperchase has contributed to a net decrease in retail presence across the UK.

PwC's analysis highlights the impact of "one-off" restructurings and failures at major retailers, further exacerbating the closure rate. However, out-of-town retail parks have shown resilience, buoyed by the emergence of new food outlets, while the expansion of electric vehicle charging stations has led to a net gain of 48 petrol stations.

The rise in new hospitality sites represents a rebound for the sector following the challenges posed by the pandemic. Despite this, the broader retail landscape continues to face unprecedented challenges, with independent retailers bearing the brunt of economic pressures.

Mr Goodacre added that Bira remains committed to supporting independent retailers across the UK, advocating for policies that address the underlying issues impacting the retail sector.

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