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3 Jan 2023

Millions are being encouraged to walk and cycle more this year to get fit and save money, with an additional £32.9 million of government funding to accelerate walking and cycling schemes...

3 Jan 2023

Almost 50 shops in the UK closed for good every day in 2022 - more than at any other time in the last five years – according to a new report from the Centre for Retail Research.

15 Dec 2022

Cytech training provider Activate Cycle Academy made it onto BBC television and radio this week as part of The One Show’s launch of a ‘Gift A Bike For Christmas’ campaign.

14 Dec 2022

Leicester has become the latest city to offer a free e-bikes scheme to encourage people to leave their cars at home and pedal around the city. The scheme, which is funded by the Department for...

13 Dec 2022

ACT’s Cytech delivery partner Activate Learning, of which Activate Cycle Academy is a part, is offering FREE online Microsoft accredited online courses for employers to enable their staff...

13 Dec 2022

We are starting a series of Retailer Profiles, shining a light on some of our best and most interesting independent retailers. If you would like us to consider your shop for inclusion, please...

12 Dec 2022

New research published by Cycling Scotland has shown that saving money is a key motivator for people taking up cycling. The study, which tracks changes in attitudes towards cycling in Scotland...

8 Dec 2022

Four in ten Britons dream of starting their own small business, with bookshops the most popular choice, according to new research by American Express Shop Small.

7 Dec 2022

During a tough economic climate with significant challenges for retailers, the Daily Telegraph has named 15 high streets around the country that it says, “retain a healthy selection of...

6 Dec 2022

The BBC has published comprehensive analysis of Ordnance Survey data that reveals the full extent of changes to Britain's High Streets after two years of Covid lockdowns and trading...

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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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