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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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Cost of living crisis forcing Britons to shun local for big brands

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

National media has reported that most Britons say that the cost-of-living crisis is forcing them to shun local shops in favour of big brands to get the cheapest prices.

In research commissioned by Santander UK, eight in ten claim the rising cost of living is forcing them to shop with big brands and national retailers to get the cheapest possible prices, even though many would prefer to shop local.

Shopping

Just 21% of those surveyed said they like to support small, local shops due to better customer service, distinctive products and a sense of community.

Meanwhile, a disturbing 80% of SMEs said they were struggling to compete with lower prices offered by national brands, while 72% said they were losing customers over it.

As the cost-of-living crisis deepens, 73 % felt that the current economic climate makes it harder for them to compete. More than two thirds of small shops admitted that spiralling inflation had forced them to raise prices.

This has also hurt their customer base, with 42% of individuals saying that soaring bills and mortgage rates have already forced them to look for the cheapest available options.

This comes after a relative boom for local shop owners, which saw 67% of SMEs receive an influx of customers during the pandemic, dissipated.

More than half of consumers said that they had tried harder to support smaller retailers between March 2020 and 2022. Those numbers have fallen this year as a quarter of shoppers have scaled back their local spending due to rising costs, despite 47% enjoying the friendliness of local outlets.

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