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What’s been happening in your industry this week? Volume 2

At WOWPOS, we understand that you will have a busy life as a business owner and will not have time to read articles about events in your industry. This is why WOWPOS brings the news to you! In this newsletter, I will be updating you on the six biggest news stories in the Retail and Hospitality Industry on a weekly basis. Here is the second installation of our weekly newsletter.


Over the years, Christmas Adverts have always been a very popular method of marketing during the Christmas period. Many established retailers have created Christmas Adverts on a yearly basis, John Lewis and Coca Cola are well known for their Christmas adverts. However, a recent survey shows that Christmas Adverts does not make a substantial difference to where customers choose to shop during the festive season. 10% of the 11,500 people who were surveyed stated that Christmas Adverts had a slight impact on the decision of where they shop. However, a huge 69% stated that Christmas adverts have no impact on where they choose to shop. Only 2% of the public said that Christmas Adverts have a big impact on where they choose to shop. This shows that Christmas adverts are not as effective as retailers thought. This shows that the expected £5.6 billion to be spent on Christmas adverts by retailers is going to waste.

In the days coming up to Black Friday, there were high expectations about the amount of Online Sales that would be generated. On Black Friday, Online Spending reached £1.23 billion but fell below expectations. Online Sales were expected to reach £1.27 billion which would have been a 16% growth from the 2015 figures of £1.1 billion. However, the actual growth was 12.2% which means that the 2016 figure fell 3.8% short of the expected number. The overall spend of UK consumers across the Black Friday popular period was £6.45 billion which was less than the forecasted £6.77 billion. This shows that Black Friday did not live up to the high expectations. The number of visitors to online retailers increased during Black Friday but there was less visitors who actually bought items.

Even though Black Friday didn’t live up to it’s high expectations, it had a huge impact on some of the UK’s biggest retailers. The retailer who saw the biggest impact was John Lewis. During the Black Friday week, they posted the most highest amount of sales in their history. John Lewis generated £199.8 million during the Black Friday week which is an increase of 6.5% from the same week in 2015. This shows that even though Black Friday didn’t live up to the high expectations, many retailers had successful weeks.



Since the UK has decided that they will leave the EU, there has been a mixed effect on the UK’s tourism. This is because there has been no clear increase or decline in the tourism levels of the UK. The overall number of visitors in the UK has risen by 700,000 in the first nine months of 2016 which indicates that Brexit has not had a negative effect on the UK’s tourism. There was also a 3.8% increase in business travellers and an 8.2% increase in people visiting friends or relatives. This shows that Brexit has not deterred tourists from coming into the UK. However, the number of leisure tourists who visit the UK has dropped by 400,000 during the first nine months of 2016. This proves that Brexit has had a mixed effect on the tourism of the UK. The percentage of British people going abroad has increased by 5.5% but the amount of people who are staying in the country for their holiday has reached a record breaking 11 million. British people seem to be preparing for Brexit as 45% of Britons stated that they are more likely to stay in the country rather than going abroad for the next year.

There are more concerns that the hospitality industry is being affected by the Brexit vote as the average price of hotel rooms in the UK’s biggest cities have dropped by up to 20 percent. This shows that Brexit has had a big impact on the Hotel industry as cities all over the UK have had their hotel room prices slashed. Cardiff’s hotels faced the biggest drop of 20% which led to their rooms being priced at £95 per night. Some of the other biggest percentage drops were Edinburgh’s which dropped by 17% to £124 per night and Bristol’s which dropped by 16% to £103 per night. London’s Hotel rooms retained their reputation as the UK’s most expensive city to stay in with room prices of £153 per night. Europe’s major cities benefited from a steady increase in their hotel room prices. However, it is not all bad news as the lower room prices are expected to lure more business travellers and visitors into the UK .

There was bad news for restaurants, pubs and hotels because reports show that they are expected to be impacted by the rising prices of food. It is reported that the average price of supplies will go up by 2% which contradicts the Consumer Price Index which stated that food  prices went down by 2% from 2015.  Restaurants, Pubs and Hotel owners have been warned about the increase in prices for produce which is low in demand. This produce includes salmon, chocolate and coffee. Alcohol which is imported from another country has also gone up in price due to the pound becoming weaker. The extreme global conditions could cause a price increase of upto 15% for produce such as prawns. This shows that it will become much more expensive to purchase products for your establishment which means that you may have to charge higher prices for your products in order to generate a sufficient profit. It is recommended that you check the contract that you have with your suppliers to review any clauses which may help reduce the costs of your supplies.

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