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Independent Retailers Association warns of difficult year ahead.

8 Jan 2024

The British Independent Retailers Association has said 2024 is anticipated to be a challenging period for shop keepers as economic challenges are still set to bite.
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Indie Retail Christmas Opening Hours

20 Dec 2023

The Indie Retail office will be open as usual (9am-5pm) for the majority of the Christmas period, with some exceptions.
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Bira CEO addresses surge in retail crime on the BBC

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Bira's CEO, Andrew Goodacre, took the spotlight on BBC Breakfast this week and later spoke with Nicky Campbell on BBC Radio 5 Live, shedding light on the rise in retail crime and shop theft,... Read more…

Dress shop crowned winner of Cambridge Christmas shop window competition.

18 Dec 2023

Dress shop Pocket Watch & Petticoats in Trinity Street has been crowned the winner in Cambridge BID’s Christmas window competition.
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Bira issues guide to protecting yourself against festive cyber scams

18 Dec 2023

In the age of online shopping, the pursuit of the best deals during the festive season is increasingly common. However, as consumers flock to virtual marketplaces, cybercriminals are seizing the... Read more…

Shoplifting now among the most common crime against small firms

18 Dec 2023

Fresh evidence about the increasing problem of thefts from shops has been revealed amid a warning that organised shoplifting is now among the most common type of crimes against small firms.
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Oldest record shop in Liverpool reopens with museum to celebrate city's musical heritage.

18 Dec 2023

One of the North West’s oldest record shops has reopened after 14 months, creating a small museum to pay tribute to its long-standing musical connections with the city.
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Indie jewellery retailer creates unique gold ‘Key Ring’ for new ITVX series

6 Dec 2023

Bristol and Cirencester-based bespoke fine jewellery retailer Titcombe Bespoke Jewellery, a member of the National Association of Jewellers, has received one of its most unusual commissions... Read more…

Family-owned butcher’s shop hopes 'Mary' will help Wigan families in need of food.

6 Dec 2023

Reynolds’ Butchers in Parbold, near Wigan, have set up a scheme called Mary’s Mince to help people living in the village.
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American Express Shop Small Highlights UK’s Top High Streets for Independent Shops

5 Dec 2023

Research commissioned by American Express Shop Small reveals the top 10 high streets for independent shops in the UK, shining a light on the nation’s small businesses that play... Read more…

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Black Friday spending expected to increase to £6 billion

Posted on in Business News, Cycles News

  • black-fridayThe overall spend across the UK will increase by £400 million from £5.60 billion projection in 2019
  • The average shopper will spend £296, this is a rise of 18% on 2019's figure
  • However, 20.3 million Brits will spend during the sales, which is an 8% decrease since last year

 

Across the UK shoppers are expected to spend an estimated £6 billion on Black Friday this year, according to annual research from shopping comparison site, finder.com. A total of 2,000 people were questioned throughout Great Britain, with representative quotas for gender, age and region.

This is an increase of £400 million on 2019's estimated figure of £5.6 billion, meaning that the average spend this year has also risen by £45 (18%) to £296 from last year's £251. In 2018 the figure was £235.

Despite the amount being spent increasing, the number of those who plan to partake in the sales is decreasing. Last year, 22.1 million (42%) said they planned to buy something on Black Friday, whereas 20.3 million (39%) expect to do so in 2020. This 8% decrease is likely a result of the financial hardships many have suffered due to the coronavirus pandemic.

However, 16.3 million (31%) are still undecided about their participation meaning the overall figure of sale participants could increase to 36.6 million.

 

Who is going to be spending the most?

On average men are expecting to fork out £106 (44%) more than women, with their average spend being £349 compared to £243 for women.

When it comes to generational differences, millennials plan to spend the most with an average spend of £372, while gen Z will spend the least as they plan to part with just £130 on Black Friday. Despite this, gen Z plan to make the most of the yearly sales, with 59% intending to shop on Black Friday, which is a higher percentage of participants than any other generation.

Londoners intend to spend the most, with the average spend being £126 above the national average of £296 (they will spend £422), while those in Yorkshire and the Humber plan to spend the least (£249).

Commenting on the findings, Georgia-Rose Johnson, shopping expert at finder.com said:

"With the pandemic and lockdown causing such disruption to people's lives and careers, you might expect people to shut their wallets this Black Friday weekend and for overall spend to fall. While this does appear to be the case in the sense that the number of people participating is predicted to decrease, overall spend is actually set to be higher.

"This means those taking part will be spending significantly more than last year and is perhaps an example of how Britain is becoming financially divided. Many have experienced great financial difficulty this year, but some people are actually better off as a result of not having to commute and a lower spend on socialising. For these people, the weekend of sales could be an opportunity for some retail therapy."


 

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