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What’s been happening in your industry this week?

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.

What’s been happening in your industry this week?

Retail

http://www.retailgazette.co.uk/blog/2016/11/new-study-shows-brits-will-opt-for-online-shopping-this-christmas

Over the years, Online shopping has become more and more popular in the UK which has led to more consumers deciding to shop online instead of going to their local high street. However, in-store shopping has always remained more popular than shopping online. According to the “Christmas Consumer Pulse Poll”, online shopping is set to become as popular as in-store shopping this Christmas. The research states that 76% of shoppers’ plan to do their Christmas shopping online which is the same number of shoppers who plan to shop in store. The reports show that 88% of the public will choose to research or buy their Christmas products online. Nearly a quarter of the population have decided to purchase all of their Christmas shopping online. This shows that online shopping is going to become the more dominant method of shopping in the near future. Shopping on mobile devices has also become more popular as 45% of the population stated that they will make a Christmas purchase using their system. Are Britain’s High Streets under threat?

http://www.bbc.co.uk/news/business-38066990

There was some big news in the Supermarket sector as Morrison’s is set to use the Safeway brand name for the fresh food products that they will sell to independent retailers. From 2017, Morrison’s are expected to release a wide range of fresh food products under the Safeway name. Morrison’s bought the Safeway supermarkets chain in 2004 for £3 billion but decided to rebrand or sell nearly 500 of their stores. For 12 years, the Safeway name has been unused which is why the news has shocked the whole supermarket sector. Morrison’s is set to compete against the other 3 big supermarkets in the UK by introducing ten more Morrison’s Daily convenience stores in petrol garages. This news will have a big effect on all the retailers and supermarkets in the UK.

http://www.retailgazette.co.uk/blog/2016/11/nearly-a-third-of-shoppers-will-be-vulnerable-to-fraud-this-black-friday

Concerning news as Black Friday arrives. Reports show that 31% of shoppers are expected to take risks on the internet which will lead to them being vulnerable to fraud. The FFA states that nearly a third of shoppers will visit suspicious sites when they are looking for Black Friday deals. Shoppers and Retailers have been warned to keep an eye out for any suspicious adverts on social media and internet searches as it is expected that 15 million shoppers will click on fake adverts and give their information to a fake website. As a Retail owner, you should ensure that you have increased security for the Black Friday weekend.

Hospitality

http://www.bighospitality.co.uk/Sectors/Restaurants/Customers-choosing-branded-groups-over-independents-says-NPD-Group

The debate about franchises has always been a controversial topic which many restaurants have different views on. However, recent reports suggest that it is more beneficial to become a franchisee instead of an independent restaurant as  the report states that customers will prefer to eat at branded restaurants rather than independent restaurants. The results stated that Franchise restaurants took 56% of the market share and Independent restaurants only took 44% of the market share. This shows that branded restaurants are the market leaders and have dominance over the independent restaurants. Since 2008, branded restaurants have attracted a huge 1.2 billion extra visits. This article suggests that it will be more beneficial for restaurateurs to become franchisees for the UK’s established brands.

http://www.bighospitality.co.uk/Trends-Reports/Why-sleeping-giant-Hull-is-a-city-to-watch

Hull has become a Dark Horse in the Hospitality industry by acquiring the status of the “UK’s City of Culture 2017”. This has led to Hull becoming a hub for the hospitality industry as many restaurants and hotels have decided to relocate there. Restaurants and Hotels are locating to Hull so that they will be ready for when Hull becomes a tourist magnet when they officially become the “City of Culture”. Hull has been described as a “sleeping giant with huge potential”. Critics expect Hull to become a hub for tourists and will expect hospitality businesses to benefit from the extra demand. As a Hospitality business owner, it is recommended that you start to consider opening another branch in Hull as the potential revenue and business will be high.

http://www.bighospitality.co.uk/Business/Birmingham-named-top-UK-city-for-business-tourism

Birmingham has been attracting an increased number of tourists on business visits as the city has been named the Britain’s most popular destination for Business Tourism outside London. This comes as no surprise as 619,000 business travellers visited the city in 2015. This shows that there is a high demand in Birmingham for Hotels and Restaurants which has led to more hotels and restaurants wanting to locate to Birmingham. The demand for hospitality establishments is set to grow as the city is adding 56 new national and international business events to its already busy calendar. Birmingham’s number of business visitors has increased by a massive 17% since 2010 and is expected to carry on growing rapidly. Birmingham is set to be a successful location for restaurants and hotels due to its increasing popularity as a tourist attraction and its established dining scene. As a hotel owner or restaurateur, it is recommended to consider the advantages and disadvantages of opening a new branch in Birmingham.

 

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