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29 Jun 2023

With this Saturday and Sunday marking Independents’ Day weekend, the culmination of the annual campaign to promote independent retailers around the UK, ACT member Elmy Cycles in Ipswich...

29 Jun 2023

The new Consumer Duty comes into force on 31 July 2023 for new and existing products and services. The aim is to set higher and clearer standards of consumer protection and to require firms to...

29 Jun 2023

Bicycle sales slowed sharply in Europe in 2022 after strong growth during the pandemic. But whilst traditional bicycles were less in demand electric bikes continued their explosion, the European...

29 Jun 2023

gogeta says it is set to shake up the Cycle to Work Scheme industry by offering partner bike shops the lowest commission fees in the industry at 4%, with an introductory offer of 3% until 31st...

26 Jun 2023

Transport for London (TfL) has launched a new Cycling Action Plan with the aim of increasing the number of journeys made in the capital by bike by a third by the end of the decade, with...

16 Jun 2023

Giant UK have partnered with Activate Cycle Academy and the Association of Cycle Traders (ACT) to provide a Cytech Technical e-Bike qualification

15 Jun 2023

Hubtiger has been revolutionising service and repair operations for numerous service-based shops with their powerful software. Now, they are thrilled to announce the expansion of their software...

15 Jun 2023

A new and improved traineeship programme for women and non-binary people being implemented by  Bike for Good, which delivers Cytech training in Scotland, is proving successful.

14 Jun 2023

The introduction of a 'death by dangerous cycling' law, proposed by then-Transport Secretary Grant Shapps last year, is unlikely to be passed before the next general election due to a lack of...

14 Jun 2023

ACT Gold Member Don Valley Cycles, dubbed “Doncaster’s favourite” cycle shop, has marked its 30th anniversary in business with a 300-mile bike ride.

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Mixed picture emerging about Coronation effect on retail

Posted on in Business News , Cycles News , Creative News, Outdoor News

coronationA mixed picture is emerging about the effect of the Coronation weekend across the UK's retail sector.

Figures from MRI Springboard suggested footfall at shops throughout the UK on Saturday was 13.2% lower than on the same day last year.

Diane Wehrle, insights director at MRI Springboard, said the Coronation "somewhat inevitably drew consumers away from stores and destinations as many were watching the proceedings".

However, footfall improved on Sunday - helped by better weather - rising 7.3% on the same time last year, although it was down slightly on the previous bank holiday weekend.

The overall impact of the extra bank holiday on the economy is hard to gauge, as while some businesses benefited, others would have been closed.

Last year, the Office for National Statistics said some firms had seen revenues fall in June after the bank holiday weekend for Queen Elizabeth II's Platinum Jubilee.

A similarly mixed picture has emerged about the hospitality industry.

Speaking to the BBC, The City Pub Group said that after an "anaemic" Saturday, sales on Sunday had been "really, really strong".

Extended pub opening hours had been expected to provide a £104m boost to the sector, according to the Centre for Economics and Business Research.

Trade group UK Hospitality said it was a weekend of two halves.

The City Pub Group owns 43 pubs across the south of England and south Wales. "Saturday was a washout - the weather was awful and that was reflected in very anaemic sales," said Clive Watson, the group's executive chairman.

"But Sunday was really, really strong," he added. "Despite street parties we were 82% up on this time last year. It's a bit of a relief."

He also said that the first bank holiday in May had been the chain's "best weekend we'd ever had" with an £800,000 turnover.

According to the Centre for Retail Research, about £200m was expected to be spent on food and drink alone over the Coronation weekend, with consumers adding more than £1.4bn in total to the UK economy.

Pubs opening hours had been extended over the coronation weekend.

The chief executive of trade group UK Hospitality, Kate Nicholls, said visitors were focused on London and the Coronation itself for the first half of the weekend, whereas the second half was about communities and a "more normal bank holiday".

"We've seen higher levels of footfall than we would normally expect at this time of year as a result of the Coronation activities going on. In total it could be worth an additional £350m worth of sales," she said.

Businesses in London fared best, she said, with hotel occupancy in the centre of the capital running at 95% on the Friday and Saturday nights. The economic impact of bank holidays was significant, but it was also regional and weather-dependent, Ms Nicholls said.

However, having three bank holidays in May was testing for most household finances, especially during the current cost of living crisis, she added.

"There is a finite amount of spending money that people have so while you'll get an uplift on one or maybe two of them, it's unlikely you'll get it sustained across the whole of the month."

Ms Nicholls also said with the addition of the final of Eurovision on 13 May and the FA Cup final on 3 June, the four weeks was due to be an expensive one for the British public.

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