Bira (the British Independent Retailers Association) has said that members are hopeful the warm weather and upcoming bank holidays will provide a much-needed boost to high street sales.
Recent data showing increased consumer spending in April (over Easter) offers encouragement, but warns that rising business costs continue to challenge independent shops.
"Independent retailers across the country are hopeful that this warm weather and the recent bank holiday spending boost will help our high streets," said Bira CEO Andrew Goodacre. "However, we must emphasise that any increase in sales will be swallowed up by the relentless rise in business costs that our members continue to face."
Recent figures from Barclays and the British Retail Consortium (BRC) showed consumer spending grew by 4.5 per cent in April compared with the same period last year, with spending in physical shops increasing by 6.9 per cent after a 1.9 per cent decline in March.
Whilst the recent interest rate cut by the Bank of England to 4.25 per cent and the newly announced trade agreement between the UK and US may provide additional economic momentum, Bira remains cautious about the ongoing challenges facing independent retailers.
Bira, which works with 6,000 independent businesses across the UK, continues to champion the cause of independent traders and shopkeepers, focusing on revitalising high streets whilst campaigning on crucial issues such as retail crime, business rates, and legislation.
