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Two for one Rouleur Live tickets

19 Oct 2022

Rouleur Live is Rouleur magazine brought to life, bringing together the best guests and the finest brands to offer consumers a truly unique celebration of cycling culture in London this... Read more…

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18 Oct 2022

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Energy Bill Relief Scheme for businesses to continue to end of March 2023, Chancellor confirms

17 Oct 2022

The new Chancellor of the Exchequer, Jeremy Hunt, has confirmed in a statement that the Energy Bill Relief Scheme for businesses will continue to the end of March 2023 as planned.
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Government wants your views on impact of energy bills

14 Oct 2022

The Department for Business is asking all businesses to respond to a survey on energy bills and the impact increased costs are having on your business. The IRC is similarly urging members to... Read more…

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

13 Oct 2022

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.
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Study names UK’s best and worst cities for retail customer service

11 Oct 2022

A new study, by careers experts, StandOut CV, claims to have identified the best and worst cities in the UK for customer service by highlighting the frequency of positive and negative comments... Read more…

Four in ten businesses believe profitability will reduce over the next year

11 Oct 2022

The British Chamber of Commerce’s Quarterly Economic Survey (QES) for Q3 2022 shows a significant decline of key economic indicators, with weakening structural business conditions and... Read more…

UK retail sales growth at its lowest since Covid-19 lockdowns ended

10 Oct 2022

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... Read more…

Sustrans calls for protected cycle lanes to be urgent Government priority

6 Oct 2022

To coincide with Cycle to School Week, Sustrans has been calling on local authorities and Central Government to guarantee protected cycle lanes on main road routes to schools.
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Government accused of not consulting cycling bodies over National Trail overhaul plan

5 Oct 2022

The Government has been accused of failing in its duty to contact statutory consultees within the cycling and equestrian sectors as part of a significant national trail overhaul plan.
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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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