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29 May 2025

The World Federation of the Sporting Goods Industry (WFSGI) has launched the first-ever Sporting Goods Physical Activity Impact Report, highlighting the growing global physical inactivity crisis...

27 May 2025

Greater Manchester has rolled out 300 new e-bikes as part of its expanding bike hire scheme in a major step towards achieving its goal of one million additional sustainable journeys every day by...

23 May 2025

ACT service partner Bikebook has teamed up with leading industry publication BikeBiz in a boost to the BikeBiz ‘Mechanic of the Month’ campaign.

22 May 2025

A pioneering prisoner apprenticeship scheme is being highlighted after almost a year of successful operation, offering participants hands-on training and professional qualifications to prepare...

16 May 2025

ACT parent company Bira has said that members are hopeful the warm weather, Easter weekend and upcoming bank holidays will provide a much-needed boost to high street sales.

15 May 2025

UK economy delivers strongest quarterly performance in a year despite forecasts of business downturn.

15 May 2025

A new e-bike hire scheme is set to launch in Edinburgh on a two-year trial basis, with the aim of having bikes on the streets ahead of this summer’s Fringe Festival.

14 May 2025

The City of London’s ‘Square Mile’ has seen the biggest increase in cycling since records began, with daily numbers rising past all previous counts.

13 May 2025

Local Bike Shop Day 2025 brought a wave of...

12 May 2025

A doctor left with life-changing spinal injuries after the front forks of his gravel bike snapped during a ride has secured a £4.5 million settlement following a prolonged legal battle.

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Cost of living crisis forcing Britons to shun local for big brands

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

National media has reported that most Britons say that the cost-of-living crisis is forcing them to shun local shops in favour of big brands to get the cheapest prices.

In research commissioned by Santander UK, eight in ten claim the rising cost of living is forcing them to shop with big brands and national retailers to get the cheapest possible prices, even though many would prefer to shop local.

Shopping

Just 21% of those surveyed said they like to support small, local shops due to better customer service, distinctive products and a sense of community.

Meanwhile, a disturbing 80% of SMEs said they were struggling to compete with lower prices offered by national brands, while 72% said they were losing customers over it.

As the cost-of-living crisis deepens, 73 % felt that the current economic climate makes it harder for them to compete. More than two thirds of small shops admitted that spiralling inflation had forced them to raise prices.

This has also hurt their customer base, with 42% of individuals saying that soaring bills and mortgage rates have already forced them to look for the cheapest available options.

This comes after a relative boom for local shop owners, which saw 67% of SMEs receive an influx of customers during the pandemic, dissipated.

More than half of consumers said that they had tried harder to support smaller retailers between March 2020 and 2022. Those numbers have fallen this year as a quarter of shoppers have scaled back their local spending due to rising costs, despite 47% enjoying the friendliness of local outlets.

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