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Concerns expressed by retail leaders following Chancellor’s Autumn Statement

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.
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Winners of Booker Prize Indie Bookshop Spotlight competition named.

22 Nov 2023

Six independent bookshops from around the UK have been named as the winners of the inaugural Booker Prize Indie Bookshop Spotlight, a competition in which independent bookshops and booksellers... Read more…

New Conservative Party chairman writes responds to NFSP DVLA petition.

21 Nov 2023

The National Federation of Subpostmasters has received a response from new Conservative party chairman Richard Holden MP regarding the petition to keep DVLA services in post offices.
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British Business Bank launches new ‘Making business finance work.

21 Nov 2023

The British Business Bank has launched a new guide aimed at smaller businesses to help them understand how different financial products can support them at all stages of their development.
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Indie Shops to Boycott Black Friday

21 Nov 2023

Independent retailers across the UK are set to defy the Black Friday sales frenzy for the third year running, according to a survey conducted by Bira, the British Independent Retailers... Read more…

Indie shops key to reversing fortunes of struggling high streets, new study shows.

20 Nov 2023

A focus on independent stores and ‘browse-only’ shops can help to reverse the fortunes of the struggling high street, new research shows.
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Bira sets out expectations for this month’s Budget.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government... Read more…

Mixed picture on consumer spending plans for Christmas

7 Nov 2023

New survey data from Deloitte has shown a seven percentage-point rise in the number of UK consumers - from 19% in 2022 to 26% in 2023 - who intend to spend more in the last three months of 2023,... Read more…

Grants of up to £100,000 made available to boost Cornish High Streets

7 Nov 2023

Communities across Cornwall can now apply for grants of up to £100,000 to improve High Streets, the council has said.
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Warwickshire County Council launches campaign to promote Christmas shopping at independent businesses

6 Nov 2023

A Christmas campaign encouraging Warwickshire’s independent town businesses to shout about why shoppers should buy from them this year is making a comeback.
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Worldwide retailers seeking new ways to attract shoppers as spending slows

Posted on in Business News

Europe's cost of living crisis has benefited discount retailers, but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said this week.

Shopers

Luxury is also continuing to perform well, with hopes that China's reopening will give fresh impetus as a months-long post-pandemic splurge by Americans starts to end.

But "if you are not really offering the best price, and you are not luxury, then it is difficult," Thomas Harms, global retail leader at consultancy EY, said on the sidelines of the World Retail Congress in Barcelona.

Although price rises are slowing, retailers globally are still worried inflation will dampen consumer spending and are looking for new ways to attract customers.

In Europe especially, some have seen sales slow as high energy bills lead customers to buy less or cheaper food and clothes.

The rising cost of goods, declining consumer demand and unpredictable supply chains were the top concerns among retail executives and managers in a survey by Boston Consulting Group published on Tuesday.

And passing higher costs on to shoppers is likely to become harder: 72% of respondents said they expected consumers to be more price-sensitive this year.

Outside the discount space, retailers are getting creative to keep shoppers coming back, with many investing in loyalty programmes, price promotions, and improvements to the online customer experience, the BCG survey found.

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