Retailers are more optimistic about the future success of their stores than at any point over the last two years, according to new research from the Association of Convenience Stores.
The latest Voice of Local Shops survey has shown that sales in the convenience sector are stabilising, with just 3 in 10 reporting a decrease in sales compared to this time last year – the lowest level since the survey began at the start of 2012. Additionally, the Optimism Index (the net outcome of retailers expecting sales to rise or fall) is at its highest level since May 2012.
The recovery has stalled in some places however, with the North East suffering the most. 39% of retailers reported a decrease in sales with just 19% reporting an increase. This has also led to retailers cutting back on staff hours, with just 7% saying that they plan to increase hours compared to 29% in the North West.
ACS Chief Executive James Lowman said: “The wider economic recovery being experienced over the last six months has filtered down to convenience, giving retailers more confidence about the coming year. We hope events like the World Cup and Wimbledon will fuel growing levels of optimism and lead to a profitable period for retailers across the country.”
Other key findings from the survey include:
- The overall percentage of retailers expecting staff hours to decrease is at its’ lowest level since the survey began (13%).
- 83% of convenience retailers nationally are actively involved in their community, with that figure rising to 90% in the South West of England
Mr Lowman continued: “We are delighted to see that retailers are continuing in their dedication to local community causes, which has become a core part of successful convenience retailing.”
