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18 Nov 2021

Technologyhas important effects on business operations. The ACT has partnered withDell to assist businesses in attaining quality up-to-date IT equipment and access specialist advice to...

8 Nov 2021

As trendy Buy Now Pay Later (BNPL) services continue to grow in popularity across the UK, a charity has warned that using these non-regulated services can be like "slipping into quicksand"....

5 Nov 2021

The All Party Parliamentary Group for Cycling & Walking (APPGCW) have an upcoming meeting on Monday the 8th November at 16:30.

4 Nov 2021

The ACT is a supporting organisation of Road Safety Week 2021 to represent the cycling industry and encourage road safety for all who usethem.

4 Nov 2021

WithCOP26 taking place in Glasgow until November 12, here are some ways that you can evaluate your business to become more environmentally sustainable.
 
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4 Nov 2021

The Government has launched a new Export Support Service to help UK businesses get answers to practical questions about exporting to Europe.

4 Nov 2021

The Scotland Cycle Repair Scheme was announced today by Patrick Harvie (MSP, Minister for ZeroCarbon Buildings, Active Travel and Tenants' Rights) at the Cycling Scotland Conference.

1 Nov 2021

ACT and ActSmart partner Global Payments (GP) will be contacting all customers to arrange the replacement of your terminal(s) to keep you up with modern requirements for no extra cost.

27 Oct 2021

The Budget and SR21 promised much for both the cycling industry and for retailers, but will it be enough to help recover the damage done from the pandemic and help sustain the cycling...

27 Oct 2021

During the Maybe* monthly masterclass you'll discover each month which bike shops have had the most social media engagement and why - catch up on last week's now.
The masterclass...

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Retail sales in March and April 'better than expected'

Posted on in Business News , Cycles News

Retail sales in March and April 'better than expected', according to the British Retail Consortium's (BRC) Economic Briefing Report reported by IRC member BIRA.

The BRC Analysts' Q2 Forecasts for 2021 and 2022 Retail Sales and Prices is available to download from the Retail Insight and Analytics website.

Key points include:

  • We have revised our sales forecasts significantly compared to our Q1 projections. Both Food and Non-Food Sales were stronger in March and April than what we had expected in January, and we now expect higher spending for the following months than we did in Q1.
  • We now project Total Sales to increase by 5.9% (an upward revision from 1.2% projected in Q1), with Food sales rising by 2.0% (an upward revision of our Q1 forecast of 0.3%), and Non-Food sales increasing by 9.1% (an upward revision from our Q1 projection of 2.0%).
  • For 2022 we forecast Total Sales to decrease by 3.4%, with Food sales projected to fall by 1.0%, while Non-Food sales projected to decline by 5.4%.
  • We revised our Shop Prices forecasts for 2021: we now expect Food prices to rise by 1.1% (a downward revision from our Q1 forecast of 1.3%), but our expectation of the evolution of Non-Food prices has remained unchanged at -2.2%. This implies that overall Shop Prices would decrease by 1.1%, compared to our Q1 projection of -1.0%.
  • For 2022, our price forecasts are unchanged from our Q1 projections. We expect Food prices to rise by 2.0% and Non-Food prices to fall by 1.8%, which means that Shop Prices would fall by 0.5%.

In producing these forecasts, we have assumed that restrictions will lift according to the roadmap, that no another lockdown will be imposed and that the vaccination rollout will continue at pace.


 

 

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