1. Comment
May 29, 2020

Independent retailers set to benefit as over 30% of UK consumers plan to spend more locally post Covid-19

By GlobalData Retail

Independent retailers are on track for a much-needed post-lockdown boost when they are able to re-open from 15 June, as almost one in three British consumers say they will visit local shops more frequently than they did before the crisis.

Free Whitepaper
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What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.

The Covid-19 pandemic has reignited the importance of the local community for many, with neighbours helping each other with shopping and forming local social groups to stay connected. Local retailers have played a part in this, with many adjusting their services to cater for their neighbourhood, quickly introducing contactless delivery options in order to make their stock available and keep their business afloat without relying on a store.

Although independent retailers selling non-essential goods will struggle to get back on their feet following the lockdown period, dealing with stock issues and the cost of implementing stringent safety measures, they will be favoured by shoppers, many of whom will be more conscious about where they spend their money. Consumers are likely to feel more of an allegiance to small independents where they may have built a relationship with the staff or owners and will assume large retailers will be better able to cope with the drop in sales.

With 62.8% of the British public that are currently working from home, expecting to do so more often once workplaces reopen, retailers in local towns are also likely to benefit as footfall in city centre locations remains subdued for some time.

Major shopping locations such as Oxford Street and supermalls such as Westfield London and Bluewater are more likely to suffer with cautious shoppers needing time to be coaxed back to travel to shopping locations that have the potential to attract crowds.

Influenced by a stronger sense of community, 95.8% of UK shoppers agreed they would purchase from local retailers at least as often as they did previously, if not more often. While this trend is evident nationwide, there are regional differences: those in Northern Ireland are the most likely to shop with local retailers more often and consumers in the North West are the least likely to buy more frequently.

Free Whitepaper
img

What is the impact of historically high inflation on the UK consumer landscape?

The average UK consumer is experiencing a severe cost-of living crisis as inflation surges to a forty-year high and the price of goods continues to rise. This shock is the result of the sharply increasing costs of commodities, energy, and the ongoing conflict in Ukraine, and is threatening FMCG manufacturers, retailers, and foodservice operators’ ability to survive and grow. Inflation will have a profound effect on many consumer-facing industries in 2022 and beyond. Consult GlobalData’s new whitepaper, Inflation in the UK: The Impact of Historically High Inflation on the UK Consumer Landscape, to better understand shifts in consumer behavior and their impact on spending patterns, as well as the implications for UK businesses. This whitepaper covers:  
  • Why has global inflation returned with a vengeance?
  • What is the current inflation situation in the UK?
  • What impact is inflation having on UK retail sales?
  • What tactics are businesses relying on to tackle the effects of high inflation?
  • How are consumers changing their behaviors to cope with the higher cost of living?
  • Which industry sectors are most vulnerable to reduced consumer demand?
  • How is the government responding to high inflation?
  • How long will high inflation last in the UK?
  • How can your company survive and thrive in a high inflation environment?
Enter your details here to receive your free whitepaper and ready your business for these increasingly uncertain times.
by GD50 Custom
Enter your details here to receive your free Whitepaper.