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The three bank holiday weekends in May failed to boost UK retail sales, with growth slowing in May according to new industry data.
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5 Jun 2023

The government has published guidance to help businesses prepare for the ban on single-use plastics which is due to come into force in October.
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A report published by financial institution Claro Money’s wellbeing division on the effects of money worries for retail workers found that 73% of retail workers feel negatively about their... Read more…

Federation of Independent Retailers says more needed to be done to support smaller businesses in Wales

24 May 2023

Whilst it has welcomed some elements of the Welsh Retail Action plan, the Federation of Independent Retailers (the Fed) said more is needed to be done to support smaller businesses.
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22 May 2023

More than two-fifths (44%) of customer service staff are considering leaving their roles due to increasing levels of cost-of-living fuelled abuse from customers.
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Friendliest high-street businesses include hairdressers and coffee shops, reports new study

22 May 2023

More than half of Britons (55%) say they have received helpful life advice from a local small business owner, new research reports.
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Bank holidays fail to boost retail sales in May

Posted on in Business News

The three bank holiday weekends in May failed to boost UK retail sales, with growth slowing in May according to new industry data.

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The latest BRC-KPMG Retail Sales Monitor reports total retail sales rising by 3.9% in May, or by 3.7% on an underlying basis, an improvement on May 2022, when retail sales fell by 1.1% and 1.5% on an underlying basis.

But the growth was below the three-month average and well below April, when sales rose by 5.1% or by 5.2% on a like-for-like basis. Food sales increased by 9.8% in May on a like-for-like basis, while non-food sales nudged up just 0.5%.

British Retail Consortium chief executive Helen Dickinson said: “The trio of bank holidays failed to get shoppers spending, as sales growth slowed to its lowest level in six months.

“While food sales got a boost from the coronation weekend, this was not sustained for the rest of the month.

“With consumer confidence still recovering from record delays, and continued tightening of household incomes, we are unlikely to see substantial sales growth in the coming months.”

KPMG UK head of retail Paul Martin added that retailers “will be hoping that inflation levels in the wider economy continue to move in the right direction in order to boost much-needed consumer confidence.”

“The wild card for the retail sector remains uncontrollable food inflation, which shows little sign of coming down in the near future and is having a significant knock-on effect on non-essential spending,” Martin said.

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