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Large number of bike shops help Cambridge be as named best city for independent retailers

24 Nov 2022

According to a new survey, Cambridge is the best in the country for independent shopping to support small businesses. The study found that many of the city's small businesses turned out to be... Read more…

Indie Retailers in York to get funding boost from City Council

22 Nov 2022

Groups of independent retailers in York are to receive a £25,000 funding boost to help with promotion during the Christmas trading period and to attract more customers in 2023.
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IRC backs ‘Colour Friday’ alternative to Black Friday sales

22 Nov 2022

The IRC has joined bira and other retail trade associations in backing the ‘Colour Friday’ alternative to this week’s Black Friday sales.
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Wandsworth indies comes together to boost local business during Christmas

21 Nov 2022

Shop owners in Earlsfield, Wandsworth are teaming up in the run-up to keep the high street busy in the run-up to Christmas. With the cost-of-living crisis affecting independent shops, the... Read more…

V12 are extending their opening hours to support retailers and customers during this festive period.

21 Nov 2022

During this festive period, V12 want to increase the support available to you and your customers. From this Friday their Customer Services, Underwriting and Validations teams will be operating... Read more…

Dave Wilsher ex-ACT Director wins Family Business of the Year

18 Nov 2022

Dave Wilsher ex-ACT Director wins Family Business of the Year at the Kent Invicta Chamber of Commerce awards.
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Retail Sector Reacts with Cautious Welcome to Chancellor’s Autumn Statement

17 Nov 2022

Retail and small business organisations have given a cautious welcome to business-focused aspects of the Chancellor’s Autumn Statement.
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Confront the recession head on, says the ACT.

17 Nov 2022

Cycle retailers around the UK facing up to the imminent challenges of recession will need to stay one step ahead of the curve to survive. Now is the time to benefit from being part of something... Read more…

Grants of £30K available to create up to eight secure cycle storage facilities across Belfast

15 Nov 2022

Belfast City Council is seeking expressions of interest to provide publicly accessible secure cycle storage facilities across the city.
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Mary Portas warns government to act now or see half of high street shops shut

14 Nov 2022

Ahead of the Chancellor’s Autumn Statement this week, retail expert Mary Portas called on the Government to rethink business rates and VAT to help struggling retailers.
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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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