With support for cash growing day by day, many businesses have already responded by reversing their card-only payment policy. But with many others still remaining cashless, leading cash handling experts Volumatic say it is time for businesses across the UK to really consider whether they want to support this drive towards protecting cash, and ultimately support their customers' wants and needs by accepting it, or if they want to risk losing trade and alienating customers by remaining or going cashless.
A new YouGov survey has shown that much of the British public is opposed to the UK becoming a cashless society and has found overwhelming support for cash as a valid payment method in the wake of a worrying number of businesses currently refusing to accept it.
The survey, published in mid-July, found just 3 per cent of the British public never use cash while 69 per cent of people in Britain oppose us becoming a cashless society – with only 12 per cent of people in favour of it. The majority of the British public (71 per cent) would support making it a legal requirement for businesses in the UK to accept cash.
Mike Severs, Sales & Marketing Director at Volumatic, says: “The results prove a real commitment to cash from the British public, and while alternative payment methods still remain popular, the fact that 97% of the UK still uses cash and want to continue using it, and that a huge chunk of the population would support a new law making it illegal to be cashless should be making businesses stand up and listen to public demand.”
These latest findings add further credence to other industry research from recent years, including the 2022 Cash Census from the RSA, which found that cash still plays a vital role to millions of people in the UK and that the UK is nowhere near ready to become cashless.
Volumatic’s own white paper research, ‘Consumers Demand Payment Choice,’ found that the majority of UK consumers wanted to retain the choice of using cash alongside other methods of payment.
Severs adds: “Companies need to remember that the so-called benefits of going cashless aren’t really benefiting either them or their customers. Cost-savings by not processing cash at the end of the day are made irrelevant by the continually growing fees from card issuers. Many businesses have already been burdened by power cuts and system failures that have made digital payments impossible for hours, and in some cases, days, leaving them without a way to accept payments for goods, leaving customers frustrated and with no choice but to take their business elsewhere.
In contrast, cash is reliable time after time, and there are also lots of advantages to accepting cash, plus intelligent solutions to make daily cash handling and processing a breeze.
Severs continues: “The benefits of cash for both businesses and consumers are clear to see. As well as protecting your customer’s personal data, not alienating certain sections of society and helping people budget, which has become increasingly popular during the cost-of-living crisis, cash also has much lower processing fees when coupled with intelligent cash handling solutions and is resilient against power cuts, cyber-attacks and much more – it really is time to stop ignoring cash.
“Businesses need to be aware of the growing consumer support for cash and by not accepting cash they risk losing trade, losing customers and facing higher costs, and can anyone really afford to do that in the current climate?
“Undoubtedly the most important reason for not jumping on the cashless bandwagon is keeping your customers happy and ensuring your business is supporting everyone in society. While many consumers do have the option to pay by card or mobile, this isn’t true for everyone – nearly 20% of our population rely on cash as their main payment method and even those that don’t want the option of using it for certain purchases.”
Already in use by the likes of Tesco, the Co-op Food Group and Subway, Volumatic’s all-in-one CounterCache intelligent (CCi) is the ultimate solution to help retail businesses validate, count and securely store banknotes. Its clever CashView Enterprise software can help monitor cash takings with real-time reporting, giving full accountability and managing cash from POS to bank and even helping to reduce CiT costs.
For a simpler option, Volumatic’s range of CountEasy money counting scales can count the till drawer in less than a minute, with 100% accuracy and eliminates the need for manual cash counting, meaning processing time is minimal and reducing shrinkage.
A selection of disposable vapes with bright and colourful packaging are seen in a convenience store, on January 29, 2024 in London, England. (Photo by Leon Neal/Getty Images)
The decision to ban disposable vapes by June 2025 has sparked strong reactions across the vaping and retail sectors, with key industry figures voicing concerns about the impact on public health and called for a balanced approach to support smokers switching to vaping as a safer alternative.
A spokesperson of Elfbar, the leading disposable vape brand, highlighted the role of the product in smoking cessation, citing that “nearly three million people in Britain have quit smoking using vapes in the last five years,” with single-use vapes comprising over 60 per cent of the UK market.
The brand warned of unintended consequences, noting, “Our concern is the potential impact on the majority of single-use vapers – adult smokers…pushing them to the black market and illicit products.”
Liam Humberstone, technical director at Totally Wicked, also pointed out the public health benefits of disposable vapes, noting they’ve served as “a key entry point for many smokers seeking an easy-to-use, effective alternative.”
While recognising environmental and youth access issues, Humberstone said “proper regulation, enforcement, and education are vital in addressing these concerns and … it’s crucial to ensure that adult smokers continue to have access to safer alternatives to cigarettes.”
James Lowman, chief executive of the Association of Convenience Stores, welcomed the government’s intention to provide businesses with enough time to prepare for the changes, but added: “This is still a challenging timetable for retailers and their supply chains.” He called for strict enforcement against rogue sellers post-ban to prevent black-market sales, which “undermine legitimate retailers.”
Mo Razzaq, national president of the Federation of Independent Retailers, suggested an alternative approach to an outright ban, advocating for a recycling scheme akin to that for single-use drink containers. “An outright ban will simply send many vapers towards unorthodox and illicit sources,” he said, highlighting the risk posed by products that may not comply with UK health standards.
Consumer advocacy groups echoed these concerns. Mike Salem of the Consumer Choice Center criticised the government for pushing through the ban during Stoptober, a campaign month encouraging smokers to switch to vaping. “Announcing such a policy…seriously damages governmental and NGO efforts in reaching a smoke-free society by 2030,” Salem said.
The UK Vaping Industry Association’s director general, John Dunne, cautioned that a ban might exacerbate black market sales, saying, “Bans are not the answer as we’ve seen in other parts of the world…they will only boost the black market.”
Dunne advocated for stronger enforcement and proposed a licensing scheme for vape retailers to help control sales to minors and ensure environmental compliance, calling for “fines of up to £10,000 and £100,000 for retailers and distributors respectively who break the law.”
The Independent British Vape Trade Association’s chair Marcus Saxton also voiced concerns about the ban's potential to mislead the public on vaping’s relative safety.
“Banning an entire category of vapes is likely to fuel public misperceptions about the relative safety of vaping to smoking. Adults using single use disposable vapes outnumber those that are under 18 by several times. Consequently there needs to be clear messaging from government to encourage those adults not to simply revert to smoking,” he said.
Saxton criticised the absence of an importation ban in the new legislation, arguing that it will lead to increased illicit trade.
The government has laid legislation to introduce the ban and, subject to parliamentary approval, businesses will have until 1June 2025 to sell any remaining stock they hold and prepare for the ban coming into force.
Northern Ireland family-run Nisa convenience store has come under Spar NI after 27 years following its acquisition by Henderson Retail. Nisa Circle K Silverwood store in Lurgan was operated by local retailer Patrick Hughes for the past 27 years.
Nisa Silverwood was acquired by Patrick Hughes in 1997. In the past 27 years the store has undergone significant developments due to Hughes' investments to help the business grow and provide more local jobs over the years.
Speaking of his decision to sell to Henderson Retail, Mr Hughes, said: “Henderson Retail taking over ownership and operations of the store is a great opportunity for the staff and the business itself.
“As a local grocer, I have seen how the company has accelerated the growth of convenience in Northern Ireland, investing in their properties to bring even more jobs, services and locally sourced products to communities.
"I have worked closely with the team to ensure the transition goes smoothly and our shoppers feel no disruption whatsoever. I have complete trust that the future of this store, future job creation for the local area and the opportunities surrounding that are vast and I’m delighted to leave this business in such capable hands.”
Under the new ownership, Henderson Retail will further develop and invest in the site, building on an already strong business model to enhance the services offered to shoppers in the local area. The company will soon submit a planning application that will further underpin their commitments towards improving the store for shoppers and staff through accessibility, sustainability, product range and modernisation of the store’s facilities.
Henderson Retail, which is part of the Mallusk-based Henderson Group, has invested £30 million in new stores, developments and renovations throughout its estate in 2024.
Henderson Retail now owns and operates 109 Spar and Eurospar stores in Northern Ireland. The company has recently opened an impressive new-build development at Eurospar Gilford and will open another at Eurospar Doury Road in Ballymena before the end of the year as part of the wider multi-million investment.
UK consumers are in a “despondent mood” as households brace for tax rises in the Budget next week, amid fears that Britain could be entering a “vibecession”, a situation of disconnect between the economy's performance and how people feel about their finances
Research firm GfK’s monthly survey of consumer morale shows confidence has slipped this month, to -21 points, the joint lowest this year. It found that households are gloomier about the general economic situation of the country during the last 12 months, and also over the next year.
Neil Bellamy, consumer insights director at GfK, reckons consumers are "holding their breath” ahead of next Wednesday’s budget statement.
He said, "The largest drop though was in our view of the general economic situation over the last 12 months, down five points to -42. On the plus side, the major purchase index rose two points and future personal financial expectations by one point. As the Budget statement looms, consumers are in a despondent mood despite a fall in the headline rate of inflation. This month’s Consumer Confidence Barometer paints a picture of people holding their breath to see what’s in store for them on 30th October.”
“Consumer confidence fell one point this month to -21, taking the score back down to the level last seen in March this year. Also falling one point are both personal financial situation over the last 12 months and general economic situation over the next 12 months.
Although Labour ruled out increasing taxes on “working people”, various revenue-raising measures could be in the chancellor’s sights, such as capital gains tax (CGT), inheritance tax, employer national insurance contributions, and fuel duty.
A similar picture was presented by PwC on Thursday (24), showing that consumer sentiment index dropped to the lowest level in 2024, led by “notable declines” among those over 65 and the lowest socioeconomic groups.
Over 70 per cent of people polled by PwC are planning to make short-term spending cutbacks, and more households plan to spend less on Christmas presents and celebrations than those who say they’ll spend more.
The drop in confidence comes despite the easing of cost of living pressures recently, with inflation dropping to 1.7 per cent last month.
Nick Gillett, Co-founder and Managing Director of successful spirits distributor Mangrove Global, celebrates India’s contribution to classic toasts with its wonderful and increasingly well-known whiskies
October is here, and our thoughts turn to many of the remaining celebrations of the year – and first up we have Diwali. A time for lavish decorations, food, sweets, and drinks, Diwali begs the question: what will you have in your glass for a toast? For me there’s one answer, and it’s whisky.
Whisky as a category is changing. Enthusiasts are exploring beyond the shores of Scotland and Ireland and buying “world whiskies" from all corners of the globe. North America and Japan have had their moment – and now it’s India’s turn.
Indian whiskies showcase Indian traditions of whisky distilling – with some added innovation. The humid Indian climate ages the spirit much faster, giving deep, complex flavours. But the nation’s distilleries are experimenting with different casks, strengths, and ingredients to bring us fascinating liquids that are now sought after, all over the world.
Nick Gillett
We launched Indri in the UK a few months ago – and it’s been a runaway success that even we couldn’t have predicted. Distilled in Rajasthan, Indri uses six-row barley that’s been grown in the region for thousands of years. The ageing process varies across the range, but let’s take a closer look at the brand’s aptly named, limited edition SKU – Diwali. Aged in Pedro Ximenez sherry casks this whisky is smooth, sweet, and smoky. No bones about it, this is a collector’s item – and there will be another limited release this year.
So, this Diwali, ensure you celebrate India’s whisky-fuelled success and stock a bottle or two of the nation’s favourite on your shelf. And if you celebrate it, have a very enjoyable Diwali.
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Huddersfield city centre (Photo by Ian Forsyth/Getty Images)
On 30 October, Chancellor of the Exchequer Rachel Reeves will deliver the Autumn Budget. Bira CEO Andrew Goodacre shares his thoughts on what independent retailers need and expect from this crucial fiscal announcement
With a new government at the helm, there's cautious optimism about fresh approaches to long-standing issues affecting our high streets. However, the challenges facing independent retailers remain formidable.
The Autumn Statement can have far-reaching implications for our sector. We're calling on the Chancellor to deliver certainty, clarity, and stability for independent traders – elements that have been in short supply recently.
A primary concern is business rates. For years, Bira has lobbied for a comprehensive review of this outdated system. Reducing business rates for all high streets would inject much-needed confidence and stability back into bricks-and-mortar retail, revitalising our town centres and communities.
Energy costs continue to be a burden for many of our members. While we welcomed previous support measures, we need a long-term strategy that addresses the unique needs of small businesses. We're hoping to see targeted support for those most affected, coupled with incentives for energy efficiency improvements.
The labour market presents another challenge. Many retailers are struggling with recruitment and retention. We're looking for measures that support skills development and make it easier for small businesses to invest in their workforce, including enhancements to apprenticeship schemes or tax incentives for training programmes.
Consumer confidence is crucial to our sector's success. We're hoping for policies that put more money in people's pockets, encouraging spending on our high streets. This could involve adjustments to income tax or National Insurance contributions.
We need policies that recognise and support the unique value of independent retail. This could include funding for high street regeneration projects, support for local business communities and “shop local" campaigns.
While many independents have made great strides in digital transformation, more support is needed – measures to help smaller retailers enhance their online presence and integrate digital technologies into their operations.
Sustainability: many of our members are keen to adopt environmentally friendly practices but find the initial costs prohibitive. Incentives or grants in this area could help accelerate the sector's green transition.
Bira CEO Andrew Goodacre
It's clear that the decisions made in the Autumn Statement will have a profound impact on the future of independent retail. At Bira, we remain committed to being a strong voice for our members, ensuring that the unique challenges and opportunities of our sector are understood and addressed at the highest levels of government.
Independent retailers are the backbone of our high streets and local communities. They bring diversity, character, and personal service that can't be replicated by large chains or online giants. As such, supporting them isn't just good economic policy – it's essential for maintaining the vibrancy and uniqueness of our towns and cities.
We look forward to analysing the Autumn Statement. Our sector's resilience has been tested time and again, but with the right support, I'm confident that we can not just survive, but thrive in the years to come.