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5 Aug 2021

Now in its ninth year, Cycle to Work Day is the UK's leading one-day commuting event. The idea is simple - to  celebrate everyday cycling.

5 Aug 2021

Part 2 of the summer series looks at how the ACT works closely with the Independent Retailers Confederation (IRC) to become even more influential in meeting the needs of independent retail.

4 Aug 2021

Whether you ride foWhether you ride for pleasure, sport or just to get from A to B, join Cycling UK for free insurance, legal cover and more.

29 Jul 2021

Part 1 of the ACT summer series looks at the rapid expansion of Cytech in the UK.

29 Jul 2021

Social media is a busy world, and the past week has been no different. Maybe* have pulled together some of the top, recent headlines. Read on to discover the Olympiad emojis and live stream...

29 Jul 2021

The IRC are seeking urgent input from members impacted by the rule changes  on 1st Julyto provide us with valuable information we can present to Government.

23 Jul 2021

Get involved early with one of the latest innovations in indoor cycling

22 Jul 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.

21 Jul 2021

The ACT plans to engage with the DfTon this plan to support its development and implementation. as well as disussing opportunities that it may present for the cycling industry.

21 Jul 2021

The report announces a new National High Streets Day to celebrate clean streets, the extension of pavement licence measures for a further 12 months and a £150m Community Ownership Fund...

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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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