news Home retail gets lockdown boost
respondents said they spent time improving their home in lockdown which is reflected by the 200% increase in online sales cited by homeware stores. Half of those surveyed had
Latest research conducted by Love Home Swap has revealed how Brits took to DIY during lockdown, resulting in a surge in demand for the home retail sector that is expected to continue. More than three quarters of
improved and tidied up their garden and a quarter had made renovations to furnishings inside their home or cosmetic change to décor. Around one in 10 had gone further and made significant improvements to their outdoor space with decking or a summer house during lockdown. Whilst almost 10% had decided to purchase high
value items for their home such as a pizza oven. To accommodate their new way of living, one in ten respondents said they had added a home office and 8% a home gym.
Results also suggest that
rather than just a lockdown fad, this new interest in home improvement is here to stay as Brits are now looking at their homes in a different light. The survey uncovered that more than half of all the respondents agreed that they are looking to improve their work / life balance in the long-term.
British homeowners spend £13,000 on added extras
New research has found that British homeowners are willing to spend an average of £13,000 on special features, such as outside seating areas and kitchen islands, to improve their properties. The survey, commissioned
by Origin, found that the most sought-after added extra amongst homeowners is an abundance of natural light, with 54 percent prioritising this. This is followed by storage (53 percent) and en- suite bathrooms (52 percent). Homeowners are willing to invest in their properties, with
87 percent agreeing that they would pay more money for added extras. One in 10 say they would reduce all other household expenditure to be able to afford the upgrades that they want. A large garden (41 percent), a garage (39 percent), and a great view (39 percent) are the features Brits are most likely to pay more for. This trend can also be seen amongst those purchasing new houses. When buying a new property, over three quarters of Brits agree that they would compromise on
the overall size of the house, with a large garden, a garage and a great view all considered more essential than square footage. Property consultant Alex Goldstein, said: “It is no surprise to me that natural light and storage take the top spots..”
Hyve announces three virtual forums
Hyve Group has announced Autumn Fair @ Home, Glee Gathering and Fashion Together (comprising Pure, Pure
Origin, Moda and Scoop), three completely virtual forums happening this September. These forums will provide exhibitors and attendees with the opportunity to showcase and discover new products, engage with suppliers via “The Virtual Showroom”, and hear market leading content from retailers and trend forecasters on what 2021 may hold for the industry. The event teams behind Autumn Fair, Glee, Pure, Pure Origin, Moda and Scoop believe that these virtual forums are a key part in their new “Refuelling Retail” initiative. This brand-new initiative calls for all market players to refuel the retail industry after a challenging first eight months of 2020. Autumn Fair @ Home, Glee Gathering and Fashion Together will be non-commercial events allowing existing customers to participate at no additional cost.
Extra support needed for retailers, says BIRA
Staycations boosting retail footfall
Latest data from retail experts Springboard reveals that footfall across UK retail destinations rose marginally last week, by +0.8% from the week before, a far more muted result than the rise of +3.8% in the previous week. Despite the hot weather – which in fact may have
proved too hot for shoppers – footfall declined in high streets by -0.5%. In contrast, in retail parks and shopping centres – the former being open air and easy to access and the latter benefiting from being climate controlled – footfall rose by +1.9% and +2.4% respectively. The extremely hot weather definitely helped tourist towns, with footfall increasing from the week before by +0.3% in coastal towns and by +0.9% in historic towns; seemingly marginal increases in both, but nevertheless a huge
improvement on decreases of -4.1% and -2.5% in the same week last year when the weather was ten degrees cooler and rainy throughout the UK.
The impact of the weather on London was as noticeable but in reverse; whilst footfall declined marginally last year in Central London from the week before by -0.8%, this year it fell by -4.5%, and in high streets across Greater London as a whole by footfall dropped by -5.2% versus - 2.3% in the same week last year.
‘Positive action’ is needed to help retail businesses meet rent demands as they continue to recover from the Covid-19 crisis, Bira has said.
It is backing the British Retail Consortium’s
(BRC) proposals for a Property Bounceback Grant, after exclusive research revealed independent retailers were concerned about paying their rent while trade struggled to return to pre-lockdown levels. Under the BRC’s proposals, a government
grant scheme would be established to bridge the gap between what tenants can pay and what landlords can forego, following negotiations based on the Government Code of Practice. According to the document, the grant would cover rent and service charges for properties in the retail, hospitality and leisure sectors that have been required to close by the Government. A grant amount will be awarded where tenant and landlord have come to a mutual agreement on rent arrangements.
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housewareslive.net •
HousewaresLive.net •
twitter.com/Housewaresnews September 2020
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