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Retailers hope warm weather and bank holidays will boost high street sales

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.
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Economic growth surges to 0.7%, but "April reality check" looms for high street retailers

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.
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Communities come together for Local Bike Shop Day 2025 celebrations

13 May 2025

Local Bike Shop Day 2025 brought a wave of... Read more…

ACT parent company Bira welcomes Bank of England's latest interest rate cut

8 May 2025

ACT parent company Bira has welcomed the Bank of England's decision to reduce interest rates from 4.5% to 4.25%, calling it a "much-needed boost" for the retail sector, including for cycling... Read more…

ACT parent company Bira responds to Beales' "Rachel Reeves Closing Down Sale" as iconic store makes final protest

8 May 2025

ACT parent company Bira has responded to the news that the 144-year-old Beales department store is staging a "Rachel Reeves Closing Down Sale" in its final weeks of trading, with giant yellow... Read more…

Employment Rights Bill - ACT and Bira answer your questions

28 Apr 2025

The Labour Government’s new Employment Rights Bill is set to be in force this year and the new regulations will impact high street retailers up and down the country.
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ACT parent company Bira welcomes Chancellor's action on unfair trade practices

25 Apr 2025

ACT parent company Bira welcomes the Chancellor's announcement of plans to create a level playing field for British businesses against unfair international trade practices.
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ACT parent company Bira responds to Prime Minister's 'Bobbies on the Beat' plan

11 Apr 2025

Bira has cautiously welcomed the Prime Minister's announcement this week on plans to put 'thousands of Bobbies back on the Beat' with a new neighbourhood policing guarantee.
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ACT parent company Bira warns of 'Atrocious April' as shop price inflation rises

1 Apr 2025

Bira has voiced serious concerns over the latest figures from the BRC-NIQ Shop Price Index for March 2025.
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ACT parent company Bira says Spring Statement fails to address high street crisis

26 Mar 2025

ACT parent company Bira has said the Chancellor's Spring Statement delivered today has failed to address the "perfect storm" of cost pressures facing independent retailers across the UK,... Read more…

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Research shows UK businesses hiring more as consumer confidence lifts

Posted on in Business News, Cycles News

New research has revealed a recent uptick in UK consumer confidence, leading to increased hiring by businesses, with the retail sector responding positively to signs of economic resilience.

Oxford Street Sun

The GfK consumer confidence index improved by two points from January to mid-February, moving from -22 to -20, as households expressed greater optimism about personal finances following recent interest rate cuts.

Despite this improvement, concerns remain over persistent high inflation and the continued impact of rising prices on household budgets.

Neil Bellamy, consumer insights director at GfK, said: “The majority are still struggling with a cost-of-living crisis that is far from over. Prices continue to rise above the Bank of England’s target, and energy bills remain a challenge for many.”

The Recruitment and Employment Confederation (REC) reported a 7.2% increase in job postings in January, the first rise since June, suggesting businesses are gaining confidence in the economic outlook. Retail job openings have also grown across all UK regions, with the East Midlands leading at an 11.7% increase.

REC deputy chief executive Kate Shoesmith said: “The increase in job postings is a clear sign that employers will hire when they need to. A 34.4% rise in new job postings signals a solid rebound in demand, showing that businesses remain resilient, despite both domestic and international headwinds.”

The report could provide positive impetus for the independent cycling retail sector, which has faced numerous economic challenges in recent months, including from the Budget announcement in October that ushered in increases in employer national insurance and a reduction in business rate relief, along with supply chain disruptions and changing consumer spending habits.

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