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King’s speech includes proposed bills to reform retail industry

22 Jul 2024

The King’s Speech in Parliament last week, which outlined 40 draft laws that the government is aiming to pass in the coming parliamentary session, included some that will directly affect... Read more…

Convenience Stores Top List of Services that Promote Local Growth

22 Jul 2024

The nation’s local convenience stores are the number one service for promoting local growth, according to new findings.
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Business rate reform called for as industry reacts to landslide Labour election win

9 Jul 2024

Following Labour’s general election win, the retail industry has stressed the need for a business rates overhaul to protect high streets across the country.
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Bira calls on new Labour government to prioritise independent retail sector

9 Jul 2024

Following Labour’s landslide Election victory, Bira, the British Independent Retailers Association, has urged the new government to make good on its promise of change by prioritising the... Read more…

Much loved toyshop saved by owner's daughter

9 Jul 2024

A much-loved toy shop in Aberystwyth that was facing closure has been saved after the former shopkeeper's daughter decided to take over the reins.
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Inverness-based retailer wins coveted Drapers Award for Best Independent Footwear Retailer

9 Jul 2024

A family-owner retailer in Inverness, Begg Shoes, has been named Best Independent Footwear Retailer at the 2024 Drapers Footwear Awards, held annually to celebrate the outstanding achievements... Read more…

'Pay-as-you-feel' barber wins hairdressing award

9 Jul 2024

A man who offers "pay-as-you-feel" haircuts has been named the UK's best barber.
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The Times publishes its list of the seven best shopping streets in the UK

24 Jun 2024

The Times has just published its list of the seven best shopping streets in the UK.
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Indie retail village wins Hospitality Hero Velvet Award for 2024

24 Jun 2024

An independent retail village in Ely that celebrates its one-year anniversary this month has won the Hospitality Hero Velvet Award for 2024.
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Bike shop owner slams police’s “abject apathy” after three shops broken into in one night

24 Jun 2024

A cycle shop owner has criticised the police’s “abject apathy” towards bike theft after thieves attempted to break into his store for the second time in a year, on the same... Read more…

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Consumers feel protective of independent shops and want to support them for their ‘social good’

Posted on in Business News

New research has found that consumers feel protective of independent shops and want to support them for their ‘social good’.

pictureque high street

The research, by Faire, the online wholesale marketplace, is based on a survey of 2,000 consumers and 100 independent UK retail leaders conducted by Opinium.

It found that:

  • 30% of British consumers say they feel responsible for supporting independent retailers.
  • 32% of those surveyed said shopping at independents allows them to reduce their carbon footprint and 20% said they think indies provide more sustainable products.
  • Despite this, 48% of British consumers still think independent shops are too expensive when compared to larger chains and online marketplaces.

Despite wanting to support the sector, 20% of British consumers have cut back on shopping at independent retailers because of the cost-of-living crisis – but that there are significant opportunities if independent retailers adopt digital innovation.

Other key take-aways include:

  • independent retail is under pressure in adverse economic conditions…

    • 20% of British consumers are cutting back on shopping with independent retailers because of the cost-of-living crisis.
    • 48% of British consumers think independent shops are too expensive when compared to larger chains and online marketplaces.
  • The independent businesses thriving at the moment are the ones innovating with digital technologies:

    • Among independent retailers, 66% felt their businesses were thriving thanks to digital transformation and 48% said that embracing technology has increased revenues.
    • 61% of the small-to-medium-sized independent retailers surveyed who operate both in-store and digitally report that their business is thriving.
    • The number of independent retailers using Faire in the UK has now hit 45,000: four times the number of stores than the four largest supermarket chains combined.
  • In fact, digital innovation represents a major opportunity for independent retailers to thrive.

    • 92% of the retail leaders agreed offering consumers the ability to browse goods online would enhance the shopping experience.
    • 73% of consumers said that integrating some form of digital retail service would encourage them to shop at their local retailers more

Commenting on the report, Olivier Buffon, Head of International at Faire, said: “Small and independent businesses are the backbone of our economy and our local communities. What this report shows is that consumers turn to them to provide products that are quality, which reflect their values, and which are thoughtfully curated.
“Combine this with the promise of digital innovation, both in how retailers source goods but also in offering digital ecommerce options to consumers, and it’s clear that despite some challenges, independent retail has a bright future.”

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