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Teacher and ice-cream store manager move from Australia to take over Halifax indie bookshop.

14 May 2024

A family of booklovers are moving from Australia to become the new owners of an independent bookshop in Halifax.
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Global Payments Report says consumer choice not just influencing but dictating the future of commerce.

14 May 2024

Worldpay’s 2024 Global Payments Report has revealed a transformative shift where consumer choice is not just influencing but dictating the future of commerce.
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Competition and Markets Authority says grocers need to prioritise accurate pricing.

13 May 2024

The Competition and Markets Authority (CMA) has called on grocers to prioritise accurate pricing following a review of the way in-store prices are displayed.
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Leicester indie retailers defend ‘special’ city centre after M&S announces closure.

13 May 2024

Independent businesses in Leicester have praised the “uniqueness” of the city and its "vibrant" atmosphere after the news that M&S was set to close drew a... Read more…

Independent shops better than big retailers at surviving COVID in the UK

1 May 2024

Small shops have been more "agile" at fighting COVID sale slumps than chain stores, according to a new report.
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Bike shops and cyclists alike urged to gear up to take advantage of Local Bike Shop Day 2024

30 Apr 2024

The UK’s estimated 7.6 million cyclists are being urged to get on their bikes on Saturday May 4th and head down to their local independent bike shop, as many prepare special activities to... Read more…

Peterborough store selling solely local products looks to expand.

29 Apr 2024

A Peterborough store stocking products solely from local entrepreneurs said it is bucking the High Street trend and looking to expand due to its success.
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BIRA launches ‘High Street Matters’ podcast for independent retailers

29 Apr 2024

BIRA is giving independent businesses across the UK a powerful new resource with the launch of its “High Street Matters” podcast.
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Tesco accused of undercutting local shops via its wholesale business.

29 Apr 2024

The Guardian has reported independent shopkeepers saying prices they pay at Tesco’s cash-and-carry arm Booker are often higher than in Tesco’s stores.
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Get ready to celebrate independent Record Store Day

18 Apr 2024

Independent record stores around the country are preparing to celebrate all things vinyl for this year’s Record Store Day on Saturday April 20th. 
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Worldwide retailers seeking new ways to attract shoppers as spending slows

Posted on in Business News

Europe's cost of living crisis has benefited discount retailers, but mid-market names are being squeezed as shoppers watch their spending, executives and analysts at an industry conference said this week.

Shopers

Luxury is also continuing to perform well, with hopes that China's reopening will give fresh impetus as a months-long post-pandemic splurge by Americans starts to end.

But "if you are not really offering the best price, and you are not luxury, then it is difficult," Thomas Harms, global retail leader at consultancy EY, said on the sidelines of the World Retail Congress in Barcelona.

Although price rises are slowing, retailers globally are still worried inflation will dampen consumer spending and are looking for new ways to attract customers.

In Europe especially, some have seen sales slow as high energy bills lead customers to buy less or cheaper food and clothes.

The rising cost of goods, declining consumer demand and unpredictable supply chains were the top concerns among retail executives and managers in a survey by Boston Consulting Group published on Tuesday.

And passing higher costs on to shoppers is likely to become harder: 72% of respondents said they expected consumers to be more price-sensitive this year.

Outside the discount space, retailers are getting creative to keep shoppers coming back, with many investing in loyalty programmes, price promotions, and improvements to the online customer experience, the BCG survey found.

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