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Award-winning gin distillery to open new shop in Morecambe

3 Oct 2024

A family-run gin company is set to open a new distillery and shop in Morecambe.
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Three quarters of British shoppers would ban paper receipts on eco grounds, new data shows

3 Oct 2024

3 in 4 Britons (77%) would ban paper receipts if they knew how many trees were cut down to generate them – and millennials are the most eco-conscious (rising to 87%).
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Bira Urges Chancellor to Safeguard Independent Retail in Upcoming Autumn Statement

24 Sep 2024

The British Independent Retailers Association (Bira) is set to address critical issues facing the UK's high streets at its upcoming Annual Conference, marking the event's return after a six-year... Read more…

Independent Retailers Association says steady inflation at 2.2% provides stability, but calls for interest rate reductio

19 Sep 2024

The British Independent Retailers Association (Bira) has said the inflation rate holding steady at 2.2% in August provides some stability for the high street - but stresses the Bank of England... Read more…

Reducing the Carbon Footprint of Cash Processing – A Guide for Businesses

17 Sep 2024

UK Finance and others who form the Cash Industry Environment Charter have been discussing best practices when it comes to cash deposits, and as a result have produced a short guide on reducing... Read more…

Local crafters band together to sell handmade goods in new shop

17 Sep 2024

A group of crafters have banded together to open a new store in Wickham, Hampshire selling their own handmade goods.
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New data - pharmacies, pubs and banks made up half of the closures on Britain's High Streets in the first six months of 2024.

17 Sep 2024

New data has revealed that a total of 6,945 stores have closed so far in 2024 - the equivalent of 38 shops per day, although if you balance this with new store openings, there's only a net... Read more…

Town becomes hotspot for Taylor Swift fans with themed cafe and shop.

17 Sep 2024

Nestled in the Anglesey community of Beaumaris, a shop and café have built their business around all things Taylor Swift, and fans seem to love it. The Mock Turtle in Beaumaris,... Read more…

Investment in convenience sector hits record high of £1bn

17 Sep 2024

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... Read more…

Bira responds cautiously to encouraging trends in KPMG Retail Sales Monitor report.

3 Sep 2024

The British Independent Retailers Association (Bira) has responded to the BRC-KPMG Retail Sales Monitor for August 2024. The report, which can be downloaded here, has highlighted:
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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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