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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.
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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…

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Already wide gap between store closures and openings is growing at a record level

Posted on in Business News, Cycles News, Political News

 

PwC and the Local Data Company's figures show that 2,692 shops closed with only 1,569 shops opening. Research into these figures found that, store closures were affected by online shopping and people showing an increasing liking for in-home leisure.

Store openings are not replacing the closures at a fast enough rates.

In 2017, new store opening on the UK's high streets reached their lowest level in over seven years. An average 15 stores opened on the UK's high streets every day in 2015, with 12 opening in 2016 and just 11 in 2017. These declining figures and a record level increase in the gap between store closures and openings may be a result of the trading environment, a decline in consumer spending and a rise in business rates costs.

Another impact that is affecting the rates is online shoppin.

Consumers are attracted to the price transparency, reliability of delivery and the simplicity of online shopping. This is an area within the retailer marketspace that is still growing rapidly and will affect the rates further. The categories that consumers sit within today are, online consumers and in-store consumers. Retailers will need to tailor their products and create a retail landscape that appeals to everyone.

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