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North Yorkshire cycle hub up for top tourism award

22 Mar 2024

Rob Brown, co-director of Dalby Forest Cycle Hub, a not-for-profit hire scheme has been nominated for the Tourism Superstar 2024 award, run by VisitEngland.
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Independent retail bodies welcome new report aimed at tackling retail crime.

21 Mar 2024

ACS (The Association of Convenience Stores) and the Federation of Independent Retailers (The Fed) have both welcomed a new report published by the Association of Police and Crime... Read more…

Indie retailers outperformed supermarkets in sales of organic food, wellness and beauty products in 2023.

21 Mar 2024

As reported by Healthstores UK, new data contained in the 2024 Soil Association Organic Market report shows that independent retailers delivered an impressive 10% growth in 2023, with... Read more…

Cheltenham beer shop and bar wins top UK award.

21 Mar 2024

An independent bottle shop and bar in Cheltenham has been named as the UK's Independent Beer and Wine Retailer of the Year 2024 at the Drinks Retailing Awards. 
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Welsh Government Announce £20m Future Proofing Fund for Retail Businesses in Wales

21 Mar 2024

A number of organisations, including Bira (the British Independent Retailers’ Association), other trade associations, BIDs and unions have met with officials from the Welsh Government to... Read more…

High Street Faces 'Unprecedented Challenges' says Trade Association

21 Mar 2024

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.
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Greeting Card Association expresses concern on new evidence Royal Mail prioritising parcel deliveries over letters.

6 Mar 2024

The Greeting Card Association has reacted to a BBC Panorama programme lifting the lid on Royal Mail management prioritising parcel delivery over letters, which it says are in contradiction of... Read more…

Kate Bush named as Record Store Day ambassador.

4 Mar 2024

Pop star Kate Bush has been announced as an ambassador for this year's Record Store Day, on 20 April.
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Shortlist for Independent Bookshop of the Year 2024 revealed.

4 Mar 2024

The British Book Awards has announced its shortlist for Independent Bookshop of the Year. 
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Local Bike Shop Day 2024 confirmed for Saturday May 4th.

4 Mar 2024

The ACT is happy to confirm the date for Local Bike Shop Day 2024 as Saturday 4 May, the weekend of the early May Bank Holiday.
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Consumer spending slowed thanks to "Beast from the East"

Posted on in Business News, Cycles News, Creative News, Outdoor News

Consumer spending growth slowed to just 2% in March as the "Beast from the East" kept shoppers at home.

According to the latest consumer spending data from Barclaycard, consumer spending grew 2% year-on-year in March, down from 3.8% in February, making it the lowest level of growth since April 2016.

street shopsIn-store spending fared particularly poorly, contracting 1.9% as a third (34%) of consumers reported the cold weather prompted them to spend less overall on the high street.

Online sales grew by 11.7%, however, as Brits chose to shop from the comfort of their own homes in the face of inclement weather.

The data also reveals that shoppers prioritised essential items, which rose 3.8%, while spending on the ‘nice-to-haves' increased by just 1.1%.

Paul Lockstone, managing director at Barclaycard, said: "The ‘Beast from the East' took its toll on the high street in March, keeping shoppers at home and leading to a slowdown in consumer spending. Despite the dip in growth last month, however, expenditure was broadly stable in the first quarter.

"It seems consumers have become accustomed to adjusting their budget and as a result, are more confident in their own finances.

"While there are bright spots, however, it's important to note that a sense of caution still remains, with many of us hesitant to change our spending patterns no matter what the next few months may bring."

 

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