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Trade organisations call on PCCs to act on local crime as retailers report record theft

5 Dec 2023

A new campaign is calling on police & crime commissioners to tackle crime on a local level, as theft against convenience retailers reaches record highs.
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London small businesses make up to 86% of their annual revenue during the festive period.

4 Dec 2023

Recent data from VistaPrint, reported by London Loves Business, has revealed that 70% of London small businesses generate up to a substantial 86% of their annual revenue... Read more…

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.
... Read more…

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…

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Consumer spending slowed thanks to "Beast from the East"

Posted on in Business News, Cycles News, Creative News, Outdoor News

Consumer spending growth slowed to just 2% in March as the "Beast from the East" kept shoppers at home.

According to the latest consumer spending data from Barclaycard, consumer spending grew 2% year-on-year in March, down from 3.8% in February, making it the lowest level of growth since April 2016.

street shopsIn-store spending fared particularly poorly, contracting 1.9% as a third (34%) of consumers reported the cold weather prompted them to spend less overall on the high street.

Online sales grew by 11.7%, however, as Brits chose to shop from the comfort of their own homes in the face of inclement weather.

The data also reveals that shoppers prioritised essential items, which rose 3.8%, while spending on the ‘nice-to-haves' increased by just 1.1%.

Paul Lockstone, managing director at Barclaycard, said: "The ‘Beast from the East' took its toll on the high street in March, keeping shoppers at home and leading to a slowdown in consumer spending. Despite the dip in growth last month, however, expenditure was broadly stable in the first quarter.

"It seems consumers have become accustomed to adjusting their budget and as a result, are more confident in their own finances.

"While there are bright spots, however, it's important to note that a sense of caution still remains, with many of us hesitant to change our spending patterns no matter what the next few months may bring."

 

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