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9 Jan 2024

Canal boat record store Rubber Ducky Records is back on the water after it sank last April, ruining over 1,000 vinyl records and a stow of music equipment stored on...

9 Jan 2024

While mass-market players continue to dominate the UK retail industry, research by Geek Retreat shows that 15% of Brits have set up their own business in the past ten years, and of these,...

8 Jan 2024

The British Independent Retailers Association has said 2024 is anticipated to be a challenging period for shop keepers as economic challenges are still set to bite.

2 Jan 2024

Hudjo is the first online marketplace that lets cyclists park with locals, which relieves the anxiety of parking your bike. 

20 Dec 2023

The ActSmart office will be open as usual (9am-5pm) for the majority of the Christmas period, with some exceptions.

19 Dec 2023

Bira's CEO, Andrew Goodacre, took the spotlight on BBC Breakfast this week and later spoke with Nicky Campbell on BBC Radio 5 Live, shedding light on the rise in retail crime and shop theft,...

18 Dec 2023

Dress shop Pocket Watch & Petticoats in Trinity Street has been crowned the winner in Cambridge BID’s Christmas window competition.

18 Dec 2023

In the age of online shopping, the pursuit of the best deals during the festive season is increasingly common. However, as consumers flock to virtual marketplaces, cybercriminals are seizing the...

18 Dec 2023

Fresh evidence about the increasing problem of thefts from shops has been revealed amid a warning that organised shoplifting is now among the most common type of crimes against small firms.

18 Dec 2023

One of the North West’s oldest record shops has reopened after 14 months, creating a small museum to pay tribute to its long-standing musical connections with the city.

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Experts advise indie retailers to "buy stock now" for Christmas

Posted on in Business News , Cycles News

A shelvesrecent article featured in Forbes written by Catherine Erdly, Small business retail expert and founder of The Resilient Retail Club, has advised independent retailers to plan ahead this Christmas, especially with regard to e-commerce, stock quantities and COVID restrictions.

E-commerce continues to dominate

Andrew Goodacre, CEO of the British Independent Retailers Association (BIRA) and member of the Independent Retailers Confederation (IRC) highlights that online shopping has more than doubled its share of retail sales in the last 18 months.

Alex Ryan, Consumer Products Marketing Consultant and owner of Marketing 101 also emphasizes the importance of selling online but stresses the need for small businesses to regularly test their websites.

"Busy websites can break or get overloaded, and there's nothing more frustrating than checking your sales on a Monday morning to discover your payment gateway snapped on Friday night" he says via email.  He also notes that this is not the time to make changes to websites, until "after the January sales".

Disruption in the supply chain ahead

As small businesses plan out their Christmas sales strategies and targets, understanding what customers' spending habits might be this year is key.

Consumers are likely to make Christmas extra special this year after many being away from loved ones during Christmas 2020. Goodacre foresees a "bumper time for retailers with demand being higher".

However, one of the looming issues this year, threatening to "ruin Christmas" will be shipping and supply. In order to meet their customer's needs and therefore boost sales, businesses need to plan ahead, especially with regard to stock quantities. Goodacre clarifies: "The real challenge for the retailer is the supply chain and ensuring that the stock is available at the right time - so look to buy stock now and start the marketing for the festive period now. It is likely that Christmas shopping may start earlier than usual, especially if the difficulties in the supply chains continue".

Safety first

No Christmas outlook advice can be shared without mentioning COVID guidelines. Small businesses involved in any face-to-face experiences with their customers, whether a physical store, Christmas markets or events must be fully compliant with any government advice, particularly around public safety.

The Christmas 2021 outlook is positive for small businesses, with many customers ready to make it a year to remember after the disappointment of 2020. However, for retail businesses to make the most of this opportunity, they need to take into account and plan for the challenges of supply chain disruption, shipping delays and the need to protect themselves, and customers, from the impact of COVID.

 

 

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