Independent retail grows in the second quarter of 2015

The British Independent Retailers Association (bira) have broken the news that Independent retail ha

Published 14th August 2015

The British Independent Retailers Association (bira) have broken the news that Independent retail has grown by 2.35% in Q2 2015. Data has shown that there has been only two product areas have suffered, namely Gifts and Fashion. These two sectors were only just the other side of zero growth.

According to the survey, anxiety amongst retailers is now at it’s lowest since early spring 2014. 7 out of 10 respondents said that they were either confident or very confident of the year ahead.

Independent High Street

Bira said that this is good news in the circumstances, adding that “growth will need to run well ahead of inflation given the cost challenges that independents face”.

Michael Weedon, the bira deputy chief executive went on to say, “They have already had to deal with a business rate increase of 2% and unless the Chancellor repeats his discount of £1,500 next year, will see huge further increases”.

Even with the National Minimum Wage increase, and the National Living Wage being introduced, retailers should take some comfort in the news about Q2. It has been stated by Mr Weedon that growth of around 2% would be sustainable for coping with a rise in interest rates.

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