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Thankfully we’re not in the same league as then, but it’s a shaky start to the year! High consumer debt; Low growth; Political uncertainty radiating from the US and Europe, and finally with the UK adding to the flux by a subject that will dominate our headlines whether we like it or not, Brexit.
The Industry Criteria & Guidance is an important tool for renewing and developing BIDs. The easy-to-read guidelines provide a clear indication of what the minimum expectations of levy payers are likely to be and therefore is an invaluable assistance to BIDs going to ballot.
So we’re off again. Back at the races, and hoping for fewer upsets this year. Although I have no doubt that it will be full of excitement, opportunity and of course the most overused word of the moment, uncertainty.
7% year-on-year decline predicted for footfall on Boxing Day
Footfall on Boxing Day will decline 7% year-on-year, according to global retail insight provider, ShopperTrak, as consumers make the most of the extra Bank Holiday day and hold off heading into store until the on 27 December.
Footfall on Christmas Eve will drop 3.5% year-on-year, according to global retail insight provider, ShopperTrak. Usually a key day for in-store shopper traffic as last minute gift buyers hit the High Street in a bid to tick off last minute items on their Christmas lists, this year is set to buck the trend in terms of footfall, peaking earlier in the week.
The Revo Purple Apple Marketing Awards are the only awards which recognise and reward effective shopping and town centre marketing within the UK retail property sector.
These awards acknowledge high standards and reassure retailers and other interested parties that shopping centre marketing is effective and provides excellent value for money. The awards also reflect how marketers have to constantly adjust to changing times, from ensuring their budget goes further and works harder, driving retailer sales and harnessing new initiatives including digital marketing.
You can enter for 2017 here
Bookings are now open for attendees and exhibition stands!
- brand new exhibition formats
- brand new floor plan
- brand new ticket pricing - our most competitive ever!
Find out more about Revo 2017 here
Peter Courtney, Chair of the Gold Awards Jury says "The quality of this year’s entries has been second to none, and what became clear to myself and my fellow Jury members was just how creative and innovative an industry we continue to be."
With an estimated £5bn of sales expected to be made over Black Friday weekend (spanning Thursday 24 November through to Cyber Monday, 28th November), this year is set to see a decline in shopper traffic on the High Street, as retailers extend their promotional strategies.
This 2.8% drop in 2016 Black Friday footfall follows a decline in shopper traffic of 4.05% year-on-year on Black Friday 2015.
Failure to reduce tax could send some businesses over the wall.
Whilst the Chancellor's commitment to reduce the cap on next year's increase for large properties – over a rateable value £100,000 – from 45% to 42% in 2017-18, and then from 50% to 32% the year after will be welcomed by some, failure to give businesses the tax reduction they deserve could send some to the wall.
Against a backdrop of solid retail property company results, the mood amongst UK delegates at MAPIC is one of opportunity rather than optimism.
There’s a feeling here that the sector is well-positioned to capture value, but there’s an air of nervousness in advance of what will undoubtedly be a turbulent year ahead.
Edward Cooke, Chief Executive said:
“These latest changes come seven years after the last review in 2008, demonstrating the clear and pressing need for more frequent valuations in order to make this tax more responsive to current conditions.
“It is well-known that the UK has the highest property taxes of any major developed country. This latest round of revaluations adds further tax burden on what already constitutes the biggest operating cost for many retailers...
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