{$inpagemarkup}

Search News

Results: 191-200 of 699


Mixed picture emerging about Coronation effect on retail

9 May 2023

A mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.
Read more…

Nominations open for British Business Awards 2023

9 May 2023

Nominations have opened for the 2023 British Business Awards.
Read more…

Independent retailers look to loyalty schemes to keep up with supermarkets

9 May 2023

Independent retailers are racing to keep up with rivals and retain customers as the battle for loyalty intensifies among supermarkets.
Read more…

Government urged to reinstate Tax Free shopping with UK Retailers missing out as sales surge across Europe

9 May 2023

The European retail sector has enjoyed its best month for international spending on Tax Free goods since the end of the pandemic after sales surged by 40% month on month in March 2023, taking... Read more…

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

27 Apr 2023

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

Worldwide retailers seeking new ways to attract shoppers as spending slows

26 Apr 2023

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... Read more…

Competition launches for indie retailers to win prizes to help with rising energy bills

25 Apr 2023

Birds Eye has launched a new competition to give ten independent retailers the chance to win a variety of prizes that will help them with rising energy bills.
Read more…

Retailers gets ready to share their Coronation windows

25 Apr 2023

Bromley in Kent is just one area in the UK where retailers and their customers are coming together to celebrate the Coronation on May 6th.
Read more…

Shop Watch scheme launched in Nottinghamshire town centre

13 Apr 2023

A project to enhance community safety and clamp down on shoplifting and anti-social behaviour across Kirkby in Ashfield has been launched by Ashfield District Council and Nottinghamshire... Read more…

Starmer launches five-point plan to breathe new life into high street

13 Apr 2023

Cutting business rates and energy bills, plus eradicating late payments are among measures in a new plan announced by Labour leader Sir Keir Starmer to “get our high streets thriving... Read more…

Back to news menu

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.”

Back to news menu

Useful links

If you have any other queries please contact us.