Feature:Retra
Retra championing independent electrical retailers in challenging times
A
s the electrical retail sector faces unprecedented challenges, from
regulatory changes to economic pressures, Retra, the UK’s specialist trade association for independent electrical retailers, continues to demonstrate why membership matters through its proactive approach to industry challenges. The association has recently taken decisive
action on the Financial Conduct Authority’s substantial fee increases for retailers offering finance options to customers. These increases threaten to significantly impact how independent retailers serve their communities. Jeff Moody, Retra Director said: “What was under £200 in recent years has steadily grown to £800 plus levies this year, with a further increase planned for next year.” The association has written to the FCA
requesting a response and justification for these increases, and a meeting with the Payment Systems Regulator and the FCA was scheduled for November. There are serious concerns about whether the FCA’s intention is to reduce the number of retailers offering credit to consumers. These price increases will inevitably reduce the number of small retailers currently offering credit payment terms to consumers. Another pressing concern for Retra members is the new energy efficiency standards for tumble dryers set to take effect from July 2025. The new regulations, which stem from EU
requirements that will apply in Northern Ireland under the Windsor Framework, introduce stricter energy efficiency standards and a new labelling system for household tumble dryers. However, retailers are currently in the dark about whether existing stock can be sold after
the deadline, what happens to products already in the distribution chain, and how this affects the rental and second-hand market. With dual energy labelling coming into effect which will further confuse consumers Mr Moody said: “Our members have made or
are making critical stock purchasing decisions right now for the 2025 season without knowing what they’ll legally be able to sell after July next year. This creates significant business risk for independent retailers who typically invest in stock up to 12 months in advance.” Since joining forces with the British
Independent Retailers Association (Bira) in 2023, Retra has continued to expand its comprehensive support package for members. The association’s e-learning platform enables staff training through live-action videos, accessible anytime and anywhere, helping members develop their teams’ skills and knowledge. Risk Management and Legal Support form crucial pillars of membership benefits. Retra Risk Assist provides comprehensive online risk management tools to ensure workplace safety and protect businesses from potential litigious consequences. The dedicated Bira Legal Helpline offers confidential guidance on various legal matters, while the one-to-one helpline provides personalised support with tailored solutions.
Specialist insurance through Gallagher
Electracare offers exclusive benefits and expert claims assistance specifically designed for electrical retailers, installers and repairers. Members receive essential health and safety guidance covering subjects that enable quick and effective compliance demonstration to enforcement officers.
Energy Efficiency Changes - Tumble Dryers The association’s HR support includes
comprehensive guidance, templates and tools to enhance efficiency and streamline record-keeping. Business continuity planning assistance helps members prepare for uncertainties, while the driving risk management system helps protect employees and widens insurance options. Members can access self-assessment questionnaires for understanding their compliance status in health and safety, HR, business continuity and driving risk. A collection of essential documents, from agreements to policies, ensures up-to-date information and paperwork suited to specific needs. Giving cover of up to £50,000 on each and every employment tribunal case
GDPR guidance assists members in
navigating the ever-evolving regulatory landscape, while the partnership with REPIC, the UK’s largest not-for-profit WEEE producer compliance scheme, provides legal, safe and eco-friendly disposal and compliance support. The weekly newsletter delivers industry highlights and Retra updates directly to members’ inboxes, while the annual Bira Conference provides engaging topics, talks from industry leaders and valuable networking opportunities. Associate Partner Resources unlock networking opportunities and marketing features with ongoing support. Mr Moody added: “The strength of Retra lies in our ability to turn individual member concerns into effective industry-wide action. Whether it’s challenging disproportionate fee increases or seeking clarity on new regulations, we ensure independent electrical retailers have a strong voice when it matters most.”
For more details, visit
www.retra.co.uk 12 |
www.ierdaily.co.uk PEOPLE MAKE THE DIFFERENCE Winter 2024
Jeff Moody - Retra Director
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40
