Chancellor Set to Support Small Retailers
Support in the Budget for hard pressed small retailers
BBC News is reporting that Chancellor Philip Hammond is set to announce a £1.5 bn support plan in the Budget to support small high street retailers. The financial package will include £900 million in business rates relief for nearly 500,000 small businesses and £650 million to rejuvenate high streets and transport links.
Amazon planning to invade the UK high street
The Sunday Times is reporting that Amazon is now gearing up for a full invasion of the UK high street. The company has hired property agents to search for up to 200 sites for Amazon Go, a new convenience store using cutting-edge technology to dispense with the need for checkouts.
Local ranges pay off
Convenience Store is reporting that the Lincolnshire Co-op has announced a 5.4% rise to £392 million to its annual sales at its food stores partly driven by local ranges. In the 2017/18 year, sales of its “Love Local” range increased by 45%. The range includes cheese made in Skegness and Grimsby smoked haddock.
Consumers say food labels are too complicated.
Convenience Store is reporting that nearly half (44%) of consumers think that food labels in the UK are complicated, out of date and full of jargon. Research by Ubamarket suggests that people with specific dietary requirements struggle to navigate through all the text on the labeling.
New Stores for the Co-op
Convenience Store is reporting that the Co-op has confirmed that it is on track to open 100 new stores in 2018. This will be the third consecutive year that the Co-op has done so. The company is set to open its fourth store acquired from Waitrose in June this year.
EU votes to ban single use plastic
Linked In is reporting that the European Parliament has voted overwhelmingly in favour of a complete ban on the use of: plastic cutlery, plates, cotton buds, straws, drink stirrers, and balloon sticks as well as a reduction on food and drinks containers like plastic cups by 2021.
Post Office cleared to acquire Payzone bill payments arm
Convenience Store is reporting that the Post Office has been given the go-ahead to complete its acquisition of the Payzone bill payment business by the Competition and Markets Authority (CMA). With over 500 million bill payment transactions across the UK last year, the deals will provide 25,000 locations at which customers can pay their household bills quickly and conveniently.
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