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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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Investment in convenience sector hits record high of £1bn

Posted on in Business News

Over the last year, convenience retailers have spent a combined £1bn (up from £646m in the previous 12 months) refitting their stores, installing new energy efficient refrigeration and lighting, and detecting and preventing crime.

Store

The findings come from the 2024 Local Shop Report, published by the Association of Convenience Stores. The investment figure is the highest on record since the report’s inception in 2012.

Key headlines from this year’s report include:

  • 71% of the 50,387 stores in the convenience sector are run by independent retailers (either unaffiliated or as part of a symbol group)
  • More than half of independent retailers (56%) fund investment from their own reserves
  • Convenience stores provide local, flexible and secure employment for around 445,000 people
  • More than one in six convenience stores (17%) now has a self-service till, up from just 3% in 2019
  • Almost half of independent retailers (47%) offer some form of home delivery/click and collect service
  • 80% of independent retailers were actively involved in their community over the last year

Speaking on the launch of the report, Association of Convenience Stores chief executive James Lowman said: “The convenience sector continues to demonstrate its importance to the UK economy at both a local and national level, as a vehicle for investment, as a job creator, and as a means of generating over £9bn in tax income for the Treasury.

“The investment figures we’ve seen this year are not surprising, as retailers tell us that they’re futureproofing their stores in two main ways.

“Firstly through hardware like efficient refrigeration, self-service tills and electronic shelf edge labels to increase the productivity of the business, and secondly through an increasingly diverse range of services like cash machines, banking services, Post Offices, prescription collections and dry cleaning – all services that previously would have taken their own place on the high street but are being brought under one roof to ensure that local people still have access to them.”

Peter Batt, MD of Nisa, said: “Today’s ACS Local Shop Report again highlights the critical role independent retailers play in supporting their local communities.

“With 71% of convenience stores independently owned, it’s clear the sector benefits from the personal touch and deep understanding independent shopkeepers provide, with their ability to tailor their proposition to local customer needs integral to their success.

“Despite the ongoing challenge of retail crime and the shocking far right riots, retailers continue to demonstrate their unwavering commitment to serving and enhancing their local areas, and I’m particularly proud of the way our Nisa retailers have persevered.”

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