🚨 Local Shops in Trouble: Jobs Cut and Investments Slashed 🚨
This year has been anything but easy for our beloved local convenience stores, with a whopping 2,000 jobs cut as they face skyrocketing costs and pressure from big supermarket chains. The Association of Convenience Stores (ACS) highlights the struggles of the country’s 50,000 local shops, warning that rising labour expenses and cautious consumer spending are taking a toll.
🔍 What’s Happening?
According to ACS, the cost of running a business has soared, while sales have plateaued due to intense competition from discounters and supermarkets. The number of convenience stores saw a small rise to 50,486, but at the cost of fewer jobs and diminishing sales figures. With projected sales expected to touch £48.8 billion this year – compared to £49.4 billion last year – it’s clear that times are tough.
💡 Investment Woes
Investment in local stores has also taken a hit, plunging by £100 million from last year. Factors like increased national living wage, higher National Insurance Contributions, and fewer business rates discounts mean retailers are shelling out an extra £612 million this year.
🏠 Community Centres Still Shine
Despite the hurdles, convenience stores remain the heart of communities, providing essential services, jobs, and a place to connect. James Lowman, ACS chief executive, emphasises the vital role these shops play and their ability to adapt to the unique needs of different areas.
Our local shops are fighting hard, so let’s show them some love and support. Your visit makes a difference! 🌟🛒