British Independents Thrive Amidst Competition

  • UK’s indies outperform global retailers with 20% growth
  • Sales volumes for British independents up by 20% compared to global average
  • Average monthly sales in UK 32% higher than North America, 15% higher than Australia
  • UK retailers’ revenue 15% lower than global average, transaction values 28% lower
  • Furniture stores saw 48% more gross revenue, shoe stores had 40% higher revenues
  • Cosmetics and beauty stores had 48% less monthly revenue
  • Specialty food stores had highest average basket size (3.86 items per shopper)
  • Shoe stores had lowest average basket size (1.45 items per shopper)
  • Brick-and-mortar stores compete with online players and large retailers
  • Independent stores offer unique products and experiences

A new report from Vend reveals that independent retailers in the UK have seen a 20% growth in sales volumes over the past year, outperforming global counterparts. The data, which analyzed over 13,000 retailers, shows that monthly sales in the UK were 32% higher than North America and 15% more than Australia. However, average revenue was 15% lower and transaction values were 28% less. Furniture stores experienced a 48% increase in gross revenue, while shoe stores had 40% higher revenues. Despite specialty food stores having the highest basket size (3.86 items per shopper), shoe stores had the lowest (1.45 items). Higor Torchia, Vend’s UK country manager, highlights that these independents compete with online players and large retailers while offering unique products and experiences.

Factuality Level: 8
Factuality Justification: The article provides accurate information from Vend’s Retail Benchmarks Report, compares data with other countries, and includes relevant quotes from Higor Torchia, the country manager for the UK. However, it could be improved by providing more context on the methodology used in the report and avoiding the use of the term ‘independent retailers’ as it may be misleading.
Noise Level: 3
Noise Justification: The article provides relevant information about sales volumes and revenue of independent retailers in Britain compared to other countries, but it lacks in-depth analysis or exploration of the reasons behind these numbers and does not offer actionable insights for readers.
Financial Relevance: Yes
Financial Markets Impacted: UK retail market
Financial Rating Justification: The article discusses sales volumes, revenue, and transaction values of UK independent retailers compared to global averages, which can impact the financial performance of these businesses and the overall retail market in the country.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk