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Retailer tactics that shone online and over the Christmas trading period

18 Jan 2019

Reports and insight into tactics that worked for retailers online and across the sales channels in the recent months with a particular focus on the Christmas period.
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Local shops supported by Welsh assembly members

18 Jan 2019

Assembly members were able to pledge their support for their local shops at the National Assembly for Wales.
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Can discounting have a negative impact?

14 Jan 2019

This year may mark the most brutal Christmas and New Year's for retailers ever.
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Future High Streets Fund

9 Jan 2019

The launch of Future High Streets Fund is there to modernise high streets and town centres.
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Decline in Boxing Day footfall

9 Jan 2019

The footfall numbers from Boxing Day have declined for the third consecutive year.
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UK not ready to go cashless yet

9 Jan 2019

The Access to Cash Review published a report suggesting that the UK is not ready to go cashless yet.
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Government plans to extend plastic bag charges

9 Jan 2019

The Government plans to extend the charge of plastic bags to small retailers by 2020, with plans to increase the charge from 5p to 10p.
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Making Tax Digital pilots and webinars available

8 Jan 2019

Making Tax Digital (MTD) is to come into effect on the 1st of April 2019, find out what you need to do and more helpful tips.

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APPCG meeting on latest updates from Manchester and London

7 Jan 2019

The APPCG hope you can join their next meeting on the latest updates from Manchester and London.
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20-70% correction in retail properties

18 Dec 2018

Fidelity is predicting a 20-70% correction in retail property as the sector gets de-rated due to rent cuts.
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UK not ready to go cashless yet

Posted on in Business News

The Association of Convenience Stores (ACS) welcomed the latest findings from the Access to Cash Review suggesting that the UK isn't ready to go cashless just yet.

The Access to Cash Review highlights how there is an overall decline in the use of cash across the UK, coupled with a fall in ATM use and the increase in businesses becoming cashless.

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Key findings from the report shows that:

  • Over the last 10 years, cash payments have dropped from 63% of all payments to 34%, with the figure projected to fall to 16% by 2027.
  • The number of LINK ATM cash withdrawals for the year to November is down over 5% in 2018, compared to the same period in 2017.
  • Despite the fall in overall cash payments, 97% of the UK population carry cash with them
  • 2.2 million people only use cash
  • 47% of the UK population believe it would be personally problematic if there was no cash in society

These findings are interesting and a reflection of a divide between the UK's public.

There are both concerns and positive responses to the idea of going cashless, with some of the concerns raising fundamental and crucial questions.

Cash today is still an integral part of society much like the UK's high streets are. Although cash is becoming more and more redundant on the day to day it started at the epicentre of society and it will remain there. Without access to ATMs the public will struggle to find a balance between card payments and the need for cash. There will always be those restaurants and beauty salons that are cash only, causing issues and barriers when customers need to access cash. What about the convenience stores that hold minimum card charges? Does this mean that every time you pop into one you need to collect £5 worth of product before being able to pick up that one item you wanted?

The notion of a 70% cashless UK is feasible and probably more or less underway today, however in agreement with the ACS, a cashless society leads to more issues than solutions.

ActSmart provides two solutions to the rising importance of being able to accept card payments; Global Payments for established businesses with medium to high card turnover and Paya Card Services for new and smaller businesses with lower card volumes.

 

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