NEWS
24 JANUARY 2025 ASIAN TRADER 7
NEWS
Independent retailers have
weathered one of their most
testing years in recent
memory.
Throughout 2024, our
members have faced multiple
headwinds, from changing
consumer behaviour to
persistent economic uncer-
tainties that have fundamen-
tally impacted trading
conditions.
The challenges have been
significant. Consumer
spending on non-food items
has declined markedly, while
footfall problems and fragile
consumer confidence have
afected high streets nation-
wide.
Despite inflation coming
under control, the slow
decline in interest rates has
continued to impact both
business and consumer
spending.
Competition has intensi-
fied, with large chains
implementing deeper and
longer discount periods. The
emergence of ultra-fast
fashion retailers like Shein and
Temu has created additional
pressure on margins, while
deflation on non-food items
has further squeezed profits.
Perhaps most concerning
has been the rise in retail
crime. Our latest survey
reveals that 78.79% of
businesses report increased
frequency or severity of theft
incidents. This isn’t just about
lost stock – it represents a
genuine threat to the wellbe-
ing of our retailers and their
staf.
The scale of the challenge is
stark. Research from PwC
shows 6,945 outlets closed in
2024 – equating to 38 store
closures per day, up from 36
per day in 2023. While new
store openings rose modestly
to 4,661, averaging 25
openings daily, the net loss of
high street presence remains
concerning.
Looking ahead to 2025,
new challenges emerge.
Medium-sized retailers face
significant increases in
employment costs, while
thousands of smaller retailers
will be hit with higher
business rates as relief drops
from 75% to 40%. These aren’t
just statistics - they represent
real pressures on real business-
es.
However, I see genuine
reasons for optimism. Wages
are set to rise faster than
inflation, which should boost
consumer spending power.
Both inflation and interest
rates should continue to fall,
helping to rebuild the consum-
er confidence that’s so vital for
our sector.
The circular economy
presents growing opportuni-
ties for independent retailers.
As consumers become
increasingly conscious of
sustainability, our members’
ability to ofer personal service
and expert knowledge
positions them perfectly to
capitalise on this trend.
Independent retailers have
always succeeded through
adaptability and resilience.
These qualities will be more
important than ever in 2025.
Those who can maintain their
agility while staying true to
their core values of personal
service and community
connection will find opportu-
nities even in challenging
conditions.
In his regular column, Bira CEO Andrew Goodacre reflects on a
challenging 2024 and examines what lies ahead for independent
retailers in 2025
Looking ahead to retail’s
Looking ahead to retail’s
next chapter in 2025
next chapter in 2025
Costcutter retailers
Costcutter retailers
benefit from Bestway
benefit from Bestway
move
move
Bestway Retail has announced the
removal of the fuel levy charge
(previously at £3.66 per delivery) for all
mainland Costcutter stores for
deliveries in 2025. In addition to lifting
the fuel levy charge, Bestway has also
led the market in announcing an
impressive investment of more than
£2.5m to reduce the cost price of more
than 11,000 best-selling branded
products across all categories. The
company identified two objectives –
to enable its retailers to make more
margin and to help them maintain
competitiveness in the market.
FrieslandCampina merges
FrieslandCampina merges
with rival Milcobel
with rival Milcobel
Dutch dairy collective, Friesland-
Campina, has agreed to merge with
smaller Belgian rival Milcobel, creating
a leading dairy cooperative.
FrieslandCampina, whose brands
include Yazoo and Chocomel, said the
merger will provide the foundation for
a future-oriented organisation that
has dairy front and centre for member
dairy farmers, employees, consumers,
and customers. The proposed merger
is subject to approval by Friesland-
Campina’s members’ council,
Milcobel’s extraordinary meeting of
shareholders, and antitrust authori-
ties. The companies said member
dairy farmers, employees, works
councils and trade unions have been
informed about the merger proposal.
Willenhall shop staf
Willenhall shop staf
threatened with knife
threatened with knife
Shop staf were left shaken after being
threatened with a knife during a
robbery on Stroud Avenue.
The incident occurred shortly after
12:30 pm when a man and a woman
entered the store and threatened
employees with a blade before
making of with items including
cheese and butter. Police ofcers
responded swiftly, arresting a
36-year-old man and a 41-year-old
woman nearby.“They were taken into
custody on suspicion of robbery. The
woman is also being questioned on
suspicion of five shoplifting ofences,”
a spokesperson for West Midlands Po-
lice said.
By Andrew
Goodacre, CEO
of Bira (British
Independent
Retailers
Association)