This is a trade facing website. Visit the ACT's consumer site thecyclingexperts.co.uk for information and advice on cycling and find your local independent cycle retailer.

Search News

Results: 121-130 of 874


15 Sep 2023

The team from Whistler Adventure School (WAS), which recently became the only centre in Canada accredited to offer Cytech technical three, is to deliver a series of free sessions in Scotland,...

6 Sep 2023

Offers designed to help Londoners 'make the green transition' following the expansion of the ultra low emission zone (ULEZ) last month include a range of discounts, offers or trials available...

6 Sep 2023

A new report on the state of the UK cycle industry suggests that bike sales have fallen once again, months after it was reported that they had fallen to a 20-year low in 2022.

6 Sep 2023

Rebecca, staff member with the ACT has released an EP on the music platform Spotify, with popular local band Thee Derelique.

5 Sep 2023

A Government energy efficiency campaign has been launched to help SME businesses across the UK to both better understand and reduce their energy usage - and in turn reduce their energy bills....

4 Sep 2023

New research has named Danish capital Copenhagen as the best city for cyclists in Europe, with one-third (33%) of the city choosing to travel by bike. Copenhagen is also one of the safest cities...

4 Sep 2023

ACT member & Cytech-accredited Highway Cycles, Hertfordshire’s largest independent bike and e-bike specialist, has opened a new shop in Bishop’s Stortford.

24 Aug 2023

Volatility in the cycle insurance market that has resulted in most insurers backing away from the UK cycling industry owing to poor claims performance has led the ACT, through its appointed...

24 Aug 2023

Cytech training provider Spokes People were recently asked by the Afghan National Team if they could suggest any way for them to be supported mechanically at the UCI World Championships in...

22 Aug 2023

Cities across the country are following the lead of the Mayor of London, and ULEZ (Ultra Low Emissions Zone), by implementing their own measures to reduce carbon produced by combustion engines.

Back to news menu

Retail sales rose in July but ‘rocky road ahead’ forecast for retailers

Posted on in Business News , Cycles News

According to the BRC-KPMG Retail Sales Monitor, retail sales rose in July though the news came with a warning that this could be the “lull before the storm”.

UK retail sales were up 1.6% on a like-for-like basis against an increase of 4.7% in July 2021 according to the new data. During the quarter to July in-store non-food sales increased by 1.2% on a like-for-like basis since July 2021. This was below the 12-month growth of 34.4%. Online non-food sales were down, however, by 3.9% against a decline of 0.6% in July 2021 and a 12-month decline of 14.1%.

KPMG head of retail Paul Martin said: “Despite consumer polls suggesting confidence is at an all-time low, this hasn’t translated to money not being spent at the tills, as consumers are determined to enjoy delayed holidays and an unrestricted summer.”

However, he sounded a note of caution, warning: “The summer could be the lull before the storm with conditions set to get tougher as consumers arrive back from summer breaks to holiday credit card bills, another energy price hike and rising interest rates. With stronger cost-of-living headwinds on the horizon, consumers will have to prioritise essentials, and discretionary product spending will come under pressure.”

He added: “As margins continue to be challenged, and costs continuing to rise, a significant drop in demand come the autumn will have detrimental impact on the health of the retail sector. Truly understanding individual customer buying patterns and being able to differentiate these will become increasingly more important for the sector.”

BRC chief executive Helen Dickinson, said:

“Sales improved in July as the heatwave boosted sales of hot-weather essentials. Summer clothing, picnic treats and electric fans all benefited from the record temperatures as consumers made the best of the sunshine. However, with inflation at over 9%, many retailers are still contending with falling sales volumes during what remains an incredibly difficult trading period.

“Consumer confidence remains weak and the rise in interest rates, coupled with talk of recession, will do little to improve the situation. The Bank of England now expects inflation to reach over 13% in October when energy bills rise again, further tightening the screws on struggling households. This means that both consumers and retailers are in for a rocky road throughout the rest of 2022.”

Back to news menu

Useful links

If you have any other queries please contact us.