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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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Pet Shop owner nominated for award for food bank donations

2 Sep 2024

Rebecca Harrington, owner of Purdy's pet shop in Coventry, has been nominated in the animal category at BBC CWR's Make a Difference awards for providing pet food parcels to food banks
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Standardised witness statement developed for retailers submitting CCTV evidence to the polic

2 Sep 2024

The National Business Crime Centre (NBCC), in collaboration with the Crown Prosecution Service (CPS) and police forces, has developed a standardised witness statement for retailers submitting... Read more…

Sheffield’s new independent retail hub opens to the public

2 Sep 2024

A redeveloped Grade II* Listed hub in Sheffield has opened its doors to the public for the first time, providing a contemporary city centre hub for some of the city’s finest... Read more…

Government urged to protect independent retailers as part of living wage increases

2 Sep 2024

The national president of the Federation of Independent Retailers has written to the new secretary of state for business and trade, Jonathan Reynolds, to highlight the impact of higher wages on... Read more…

Barbers to test blood pressure to fight inequality

2 Sep 2024

Two barber shops in south London are offering customers free blood pressure tests to tackle undiagnosed health issues amongst black and Asian men.
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Bira welcomes recent Bank of England interest rate cut

14 Aug 2024

The British Independent Retailers Association (Bira) has welcomed the Bank of England’s recent decision to cut interest rates from 5.25% to 5%.
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Community rallies around shop owner’s appeal after ‘devastating’ break-in

14 Aug 2024

A shop owner in Bramley, West Leeds, has thanked kind-hearted members of the community after her shop was targeted by burglars.
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National and local governments called on to invest in the repair of the retail sector after recent riots.

14 Aug 2024

The recent wave of civil unrest in the has dealt a severe blow to the UK retail sector, with high-street stalwarts and independent stores alike bearing the brunt of the violence.
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Black Friday consumer spending forecast to drop 50% this year

Posted on in Business News, Cycles News

Figures from research conducted by global marketing agency Wunderman Thompson Commerce suggested consumers are set to spend up to 50% less than usual this Black Friday, November 25th.

Overall spend per consumer is expected to fall from £168.18 in 2021 back to the 2020 average of £86.06.

However, in a blow to the bricks and mortar retail sector, it seems almost two thirds of Black Friday shoppers expect to make their purchases from Amazon.

Black Friday

Over three quarters (76%) of shoppers said their proportion of online spend will likely increase this year as they search for the best deals, range, speed and convenience offered by marketplaces such as eBay and Amazon.

Christmas is set to remain a key driver for expenditure with gifting the top reason to purchase for 57% of shoppers.

Marketplaces have grown in tandem with Black Friday in general, with over a third of global shoppers (34%) going as far as to say they get inspiration from marketplaces more than search engines (34%).

“Retailers will simply have to work that much harder to encourage spend this Black Friday amidst the cost-of-living crisis and worries over debt,” Wunderman Thompson Commerce global head of consultancy Hugh Fletcher said.

“However, the pressure that will be felt by brands, retailers and marketplaces doesn’t come without opportunity. They all now have many more channels at their disposal and must take a wise approach to meet shoppers’ demands.

“Fusing together deals and discounts across different platforms can offer a foundation to reach millions and on a global scale.

“Ultimately, it’s down to retailers, brands and marketplaces to find the perfect blend of transparency and consumer-centric thinking when peak traffic inevitably spikes.

“Be genuine in approach and speedy in service to connect with your audiences so they feel compelled to go from scrolling to purchasing.

“Or face a reality where your brand becomes disconnected with shoppers’ changing desires and habits.”

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