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What’s been happening in your industry this week? Volume 3

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 third installation of our weekly newsletter.

What’s been happening in your industry this week? Volume 3

Retail

 

http://www.retailgazette.co.uk/blog/2016/12/75-percent-of-retail-workers-have-no-choice-on-timing-of-christmas-shifts

Over the Christmas period, retail stores get very busy due to many customers doing their Christmas shopping. This means that retail stores will need extra employees to be able to deal with the high traffic of customers. Reports show that 66% of retail workers will work over the Christmas period which proves that more employees are needed over the festive season. A massive 63% of retail workers will have to work Christmas eve and 25% of employees will be expected to work Boxing Day. This shows that retail workers will not have the choice of which days that they work at Christmas. 59% of retail workers have stated that they do not like working over the Christmas period due to missing out on quality time with family and friends. Another 58% of employees said that they are unable to relax over the Christmas period due to work. This displays that a majority of employees do not want to work over the Christmas period. 38% of retail employees stated that they didn’t like seeing other people enjoy themselves which shows that the morale of retail workers is low. This has the risk of reducing the quality of your store’s customer service. How many days do your employees work during the Christmas period?

http://www.retailgazette.co.uk/blog/2016/12/delivery-chaos-expected-over-the-christmas-period

Christmas is a very busy time for delivery services as it is predicted for 393 million parcels to be delivered over the festive season in 2016. However, due to the substantial number of deliveries,it is expected that the number of delivery problems is going to match last year’s 32% growth. This shows that a substantial number of parcels will not be delivered or will be sent to the wrong address. This is bad news for Online shoppers as it is predicted for customers to spend an average of two and a half hours solving their delivery problems. In 2015, 4.8 million consumers experienced delivery problems and the delivery problems cost customers a massive £148 million. This suggests that many deliveries will not be completed which will cost the consumers a substantial amount of money and time. However, citizen advice has instructed customers that retail stores are responsible to solve delivery problems and to compensate the consumers. This shows that delivery problems could cost your business a lot of money this Christmas.

http://www.retailgazette.co.uk/blog/2016/12/black-friday-sales-change-dramatically-from-last-year

During the chaos of Black Friday, many retailers decided to change their sales methods. One of the biggest changes in sales tactics were retailers extending the length of their offers. This led to many retailers offering Black Friday deals during the week coming up to Black Friday. This had an effect on the number of prices dropped for Black Friday.In 2015, 71,000 prices were dropped from Thursday to Black Friday. However, in 2016, only 16,000 prices dropped from Thursday to Friday. This suggests that many retailers changed their sales tactics and started their Black Friday promotions early. Online Retailers extended their Black Friday deals to reduce the traffic of customers who visited their website on Black Friday, this prevented websites from crashing. Even though the length of promotions were longer, the amount of sales generated decreased by 7%. The volume of customers also decreased by nearly 11%. This is because consumers were waiting for the end of the Black Friday sales because they were expecting better deals at the end of the week. This displays that the change in sales tactics were unsuccessful for retailers. Did your store change their sales tactics?

Hospitality

 

http://www.bighospitality.co.uk/Trends-Reports/Fundamental-Brexit-effect-on-food-and-drink-prices-expected

 Since the United Kingdom have decided to leave the EU, there has been many predictions on how Brexit will affect the prices of food. It has been discovered that Brexit will have a major impact on the prices of food and drink. The price of food service is expected to increase by 3.4% in 2017 alone. The overall prices of food and drink are expected to rise by 5%. This shows that the UK leaving the EU will lead to the prices in restaurants increasing substantially. This is expected to decrease the number of customers that restaurants receive which will lead to the sales of restaurants lowering. Once the UK has fully left the EU, food and drink prices will become very vulnerable to trade deals. This is because 29% of all food consumed in the UK is imported from the EU. This proves that when the UK leaves the EU, trading laws will change. This will lead to the prices of food in restaurants continuing to increase. Has your restaurant’s prices increased?

http://www.bbc.co.uk/news/health-38239259

Many fast food restaurants have children as their target audience, this has led to an increase in the number of unhealthy products that children consume. The increase in the amount of unhealthy foods that children consume has led to an increase in child obesity. The government have banned online adverts which promote foods which are high in fat, salt or sugar and are aimed at children. This is expected to reduce the amount of junk food adverts children will see on Youtube and other websites which are used by a lot of children. These rules are expected to have same effect as the rules placed on junk food adverts for TV in 2007. It has been decided to limit the amount of junk food adverts because it is reported that the majority of 5 to 15 year olds spend 15 hours online every week and spend more time online than watching TV. The government is unsure about the impact that the restrictions will have on the eating habits of children. Do you promote your meals online?

http://www.bighospitality.co.uk/Sectors/Restaurants/Use-Christmas-to-boost-long-term-recruitment-urges-The-Change-Group

During the Christmas period, restaurants will become very busy which means that many restaurants will hire more employees to deal with the extra demand over the festive season. However, many restaurants will give their employees temporary contracts. This means that the employee will no longer work for the restaurant once the festive season is over. During November, it is reported that recruitment rises by 47% which is due to restaurants hiring more employees for the busy month of December. However, the amount of full time positions has dropped by 10 percent. This has led to the number of temporary roles increasing by 77%. This shows that restaurants are only hiring for the festive season and are not offering long term contracts. The Change Group has suggested for restaurants to use the boost of recruitment at Christmas to combat the shortage of staff in the Hospitality industry. This has led to restaurant owners being encouraged to offer long term contracts to employees so that they will continue to have enough staff once Christmas has ended. It is recommended for restaurants to demonstrate hospitality as a long-term career choice for employees by offering them training. This will allow your restaurant to use your Christmas staff to ensure that your restaurant is sufficiently staffed in the long term.

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