South East Retailers Confident despite Recession
According to the figures retailers account for 83,000 small and medium sized enterprises (SMEs) in the south east of England, including sole traders, motor traders and wholesalers.
Of the retailers surveyed by Business Link for the South East Business Monitor, 50% have been negatively affected by the economic downturn but 78% are confident that they will survive the recession. Retailers with a website and a loyal customer base were particularly confident in an upturn in business.
Other findings from the survey were:
- 24% had seen a drop in customer numbers over the past 12 months
- 44% reported lower spend per customer
- 53% adopted discounting
Retailers that are part of a chain or wider group identified key challenges such as;
- responding to competition (65%)
- improving staff performance/skills (64%)
- reducing waste/improving energy efficiency (61%)
- developing management/leadership skills (46%) and
- recruiting skilled staff (40%).
You can read a full summary of the research in the Hot Topic Flashlight (204k PDF)
For a copy of the full Hot Topic Spotlight Report on the Retail Sector, email Siobhan.firstname.lastname@example.org
Business Link offers all retailers a free Business Review ‘Health check’ and has also developed a free Guide to Doing in Business in Tough Times for the retail sector. To get a copy of the guide visit the retail section of the Business Questions Answered website.