In the run-up to the chancellor’s Spring statement this month, Bira (British Independent Retailers Association – representing independent cookshops and housewares retailers) is asking for the proposed increase in business rates to be ditched. The association is concerned about the rising costs of retail, although it has responded to the BRC-KPMG Retail Sales Monitor for February 2022 with a degree of optimism.
In the BRC-KPMG Sales Monitor, non-food retail increased by 6.9% on a like-for-like basis over the three-months to February. In-store sales of non-food items grew 57.2% on a like-for-like basis, while online non-food sales decreased by 28.4% during February, compared with the substantial growth of 82.2% February 2021.
In response to this statement, Bira’s ceo Andrew Goodacre said: “The UK economy bounced back in January, and better than expected. We have also seen retail sales growth in January and February with the return of people in shops and a reduction in on-line shopping.
“The recent set of figures would normally allow us to look forward with a degree of optimism. However, there is so much uncertainty at the moment with rising inflation, rising business costs and the war in Ukraine that any optimism is shadowed by real concerns for the rest of 2022.
“There will be real pressure on consumer spending, and we know that the costs of running retail businesses is rising at a faster rate than sales. Later this month the chancellor will be making his Spring statement and we are asking him to cancel the proposed increase in business rates and retain the amounts paid by business in 2021.”
Top: Sales figures show how shoppers have returned to the high streets following the pandemic, with a decline in online non-food shopping. (Photo by Anna Tarazevich). However, Bira is concerned about rising costs for high street retailing in 2022.
