The British Independent Retail Association’s (Bira’s) recent Retail Sentiment survey has revealed how Christmas trade and January business performance was for its members in 2023/2024 compared to the previous timeframe last year. The survey also looked at the confidence levels of retailers for the year ahead.
The survey’s findings included:
Christmas Trade Insights
Over half (57%) of respondents reported that last Christmas was worse than Christmas in 2022.
January Business Performance
Some 59% of those surveyed indicated that January 2024 has been worse than January 2023.
Confidence in the Year Ahead
Only 25% of respondents expressed confidence in retail this year, with 53% indicating a lack of confidence.
Retailers cited various challenges to include Black Friday deals which affected Christmas sales. Other factors, included the cost of living crisis.
“These findings reveal concerning trends for independent retailers, reflecting the challenges they navigated during the festive season and into the new year,” commented Bira’s ceo Andrew Goodacre.
“At Bira, we are actively engaged in lobbying the government, using this valuable data to underscore the urgent need for measures that boost consumer confidence on our high streets. Our focus is on reinvigorating local spending and creating a vibrant retail landscape. As we await the Spring Budget this week we hope it delivers initiatives that strengthen the backbone of our communities—the independent businesses that make our high streets unique.”
Top: For some Bira members, Christmas and the start of the year has been challenging.
