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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

19 Dec 2023

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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UK retail sales growth at its lowest since Covid-19 lockdowns ended

Posted on in Business News, Cycles News

Britain’s retailers in September saw their sales grow by the slowest rate since shops reopened after the end of Covid-19 lockdowns, as consumers cut spending in the face of rising energy costs and inflation.

Retail sales increased by 2.8% in September, compared with a 3.6% rise in August, according to BDO's High Street Sales Tracker.

Retail sales

"The actual performance for retailers may be even worse than these results suggest. With rising inflation, data suggests that the actual volume of sales is down significantly while it is higher prices that is driving the growth," said Sophie Michael, BDO's head of retail and wholesale.

Sales peaked at 4.9% in the second week of September and then fell to 1.3% in the third and fourth weeks.

Fashion sales rose 6.7%, while lifestyle sales increased by just 1.2%.

The homewares sector had a disappointing month with sales declining by 6.3%, reflecting belt-tightening by consumers after they spent significant sums improving their homes during the pandemic.

"While the overall like-for-like is not quite going backwards across all discretionary spending categories, it's clear that it's trending downwards,” said Michael.

"In addition, with the pound's current level against the US dollar and euro, retailers that rely on imports are paying more for their products, eating into already slim margins.

"The one bright spot is that with the pound's weakness, the UK becomes an attractive destination for overseas tourists doing their Christmas shopping. However, this is unlikely to provide much of a boost to retailers beyond flagship stores in major cities.”

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