Cost Pressures

August sees retail sales increase

In August, UK retail sales increased by 1.3 percent on a like-for-like basis from August 2016, according to the BRC. On a total basis, sales rose 2.4 percent in August, against a decline of 0.3 percent in August 2016, which had been the poorest performance of the year. This is…

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Majority of small firms stretched to meet NLW

New research from the Federation of Small Businesses (FSB) shows the majority (64 percent) of small firms impacted by the National Living Wage (NLW) have stretched to meet the latest rise by taking lower profits. Two in five (39 percent) small businesses affected by the NLW have put up prices…

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Debit cards overtake cash as a payment method

For the first time ever, cards have overtaken cash as the most common payment method, reports the The British Retail Consortium (BRC). Its annual Payments Survey revealed that cards now account for more than 50 percent of all retail transactions by volume. The BRC credits retailers’ investment in payment technology as one…

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Small firms ‘squeezed’ by inflationary pressure, says FSB

The Consumer Prices Index (CPI) remains above the Government’s 2 percent target. The CPI is a measure that examines the weighted average of prices of a basket of consumer goods and services. Its 12-month rate rose to 2.9 percent in May 2017, up from 2.7 percent in April, reported the Office for…

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Online sales slow according to new data

Year-on-year internet sales growth has slowed and fallen below the long-run average, according to the latest CBI Quarterly Distributive Trades Survey. Retail sales were broadly flat in the year to May following strong growth in April. The survey of 117 respondents also found that orders placed with suppliers fell modestly…

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Small business confidence continues to rise

UK small business confidence is at its highest level in over a year, according to the latest Federation of Small Businesses (FSB) Small Business Index (SBI). Despite a rise in business costs there has been a strong recovery pushed forward due to increased international trade. A net balance of 15.6…

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Brexit strategy ‘must focus on fair deal for consumers’, says BRC

The British Retail Consortium (BRC) has called on the government to put consumers first in the forthcoming Brexit talks. In a letter to Secretary of State for International Trade Liam Fox, the BRC said the government’s strategy must focus on finding opportunities for lowering import costs as well as avoiding…

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