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What’s been happening in your industry this week? Volume 6

Happy New Year! Are you ready for 2017? At WOWPOS, we understand at that at the start of the new year, you will be very busy managing your store and dealing with responsibilities of your business. This means that you will not have the time to read the news every day. However, WOWPOS keeps you up to date with the all of the news that you need to know with our weekly newsletter. We provide you with a quick round up of the week’s biggest news.

What’s been happening in your industry this week? Volume 6

Retail

http://www.retailgazette.co.uk/blog/2017/01/footfall-slumps-by-23-dot-8-percent-on-new-years-weekend

Many businesses will welcome the new year in by offering promotions. Usually, this will cause a substantial number of customers to visit stores at the beginning of the year. However, this was not the case this year. During the New Year’s weekend, footfall dropped by 13% on the high street and dropped by a massive 50% in shopping centres. This shows that the start of the New Year was disappointing for retailers as they received a severely reduced number of customers. It is suggested that the decreased number of customers is due to the poor weather, higher spending in December and bank holiday trading hours. This has led to a significant number of customers deciding to do their shopping online instead of going to a store. The disappointing start to 2017 suggests that 2017 will be a difficult year for retailers.

http://www.retailgazette.co.uk/blog/2017/01/early-signs-of-post-brexit-vote-inflation-start-to-show-in-shop-prices

The impact of Brexit is finally starting to show in the retail sector as prices are beginning to inflate. The weakened pound is beginning to affect the retail sector as deflation is slowing down and the prices of clothing and footwear has risen. In December, general shop prices decreased by 1.4% However, the majority of categories has shown a month-on-month increases in prices. Clothing and footwear prices have increased monthly for the first time in two years, this highlights the impact that Brexit has had on the prices of retailers. During 2017, your retail prices will continually increase due to the impact of the exchange rate and the increase in price of supplies. Has your store’s prices increased?

http://www.retailgazette.co.uk/blog/2017/01/high-streets-endure-quietest-december-since-1998

During December, retailers usually receive a higher traffic of customers due to the public preparing for Christmas and purchasing gifts. However, recent reports show that this December has been the quietest December for high streets since 1998. During December, high street footfall reduced by 9.4% which suggests that a majority of customers decided to shop online instead of going to a physical store. The third week of December was expected to be the busiest shopping week of the year as it included “Super Saturday”. However, this also disappointed as footfall decreased by 1.7% from the previous year even though there was one day less of trading last year. This suggests that the demand of consumers as significantly reduced. Is this the end of High Streets?

Hospitality

http://www.bighospitality.co.uk/Business/Harrods-staff-demand-greater-control-over-tips

Do you let your staff keep the full value of their tips? Catering staff of Harrods are threatening to strike after claiming that Harrods keeps 75% of the tips from their restaurants and cafes. The United of Voices of the World Union which represents the Harrod’s staff has reported that the action of Harrod keeping the tips has costed their workers up to £5,000. Harrods keeping the tips has sparked outrage as the employees believe that it is their hard work being rewarded so they should be able to receive the whole service charge. Harrod’s employees want the ability to be able to appoint their own Troncmaster who will be able to distribute the tips among the staff. Do you use a Tronc system?

http://www.hospitalityandcateringnews.com/2017/01/rather-enticing-london-restaurant-openings-2017/

As a restaurateur, it is crucial that you are aware of all of your competition. During 2017, it is expected for a wide range of restaurants to be opened by established chefs. Anne-Sophie Pic is set to open a French restaurant which will be showcasing her high-quality French cuisine. It will give customers the opportunity to taste her cuisine in the UK’s capital. It is set to open on the 26th January 2017 and will be called La Dame de Pic. In February 2017, Hai Cenato will open it’s doors for the very first time next to Victoria station. Hai Cenato will provide their customers with a combination of New York and Italian cuisine and will include pasta, grills and pizza on their menu. They will also be opening a bar within the restaurant called Drunken Oyster which will add a twist to traditional Italian cocktails. D&D London will compete with the Hai Cenato by opening a restaurant in the same complex. Aster is set to open on the 1st February 2017 in Victoria’s Nova complex. The Aster will be run by Helena Puolakka who will use Nordic cuisine combined with classic French cooking techniques which will produce a unique menu. The establishment will use two floors which will include a café on the ground floor and an upstairs restaurant and bar. Want to find out more about your competition? Read the article to find out about all of the up and coming restaurants that will open in 2017.

http://www.bighospitality.co.uk/Sectors/Restaurants/How-a-rebrand-of-Huxley-s-restaurant-led-to-a-16-sales-increase

Is your restaurant branded? As a restaurateur, it is vital to know the importance of branding your restaurant in order to succeed. However, the Casual Dining Group has proven the importance of branding by achieving a 16% sales increased after rebranding their Huxley’s restaurant. The CDG rebranded their Huxley’s restaurant so that they could appeal to more women and welcome more families. They also believed that their restaurant was outdated and wanted to make it look attractive to potential customers. The new branding has been used to display the aims of the Huxley restaurant to their customers and to appeal to a wider range of customers. This shows that a rebrand will be a successful way to boost your sales and will increase the success of your restaurant. Does your restaurant need a rebrand?

 

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