The reasons why so many charities are reviewing their retail business Many charities have enjoyed a retail sales boom since mid-2022 through to the end of 2023. Most charities understand the increased cost pressures of 2024 that include the large increases to the national living wage that could greatly impact profits. Therefore, it is not[…]
Charity Retail predictions 2024 What are the key predictions for charity retail in 2024? Background We are living in a very traumatic period with high inflation although this may have reached its peak in late 2023. It is unfortunately a perfect storm with a war in Europe plus serious unrest in the middle east, high[…]
Customer shopping trends are still evolving with the buying preloved goods becoming increasingly popular for range of reasons including the growing cost of buying new, and the increasing desire to help the planet. These changes have boosted sales and grown the confidence for charities to grow and further develop their retail businesses. This has really[…]
Good leadership is criticially important for the long-term success of all businesses and retail is no exception. One of the main challenges for charities with a retail business is that retail is not their area of expertise. This makes charities normally very dependent on the capabilities of their retail leadership. There are some key differences[…]
There are a range of different measurements of charity retail performance, but which is the best? Profit vs Budget For many charities this is the ultimate financial measure, but it is totally dependent on the quality of the budget, and it does not consider the real potential of individual shops and e-commerce. Assessment of this[…]
CHARITY RETAIL SALES TRACKER Are you outperforming the market? Charity retail sales are booming. The average performance over the past 12 months is 13.2% year on year sales improvement. Apr-23 15.9% Mar-23 14.4% Feb-23 16.8% Jan-23 14.8% Dec-22 17.9% Nov-22 10.9% Oct-22 11.7% Sep-22 6.6% Aug-22 10.1% Jul-22 13.3% Jun-22 7.2% May-22 18.4% Supplied[…]
Retail Property insight Charities come in all shapes and sizes; each have their own different property needs but satisfying their own property requirements is not easy. Background Today many charities are currently looking to expand their retail estate or change the locations of some of their shops. Large retail units are now very popular with[…]
Background There has been so much change within retail since 2000, with a considerable number of mainstream retailers that have closed. Most people can remember Woolworths, Debenhams, BHS, Austin Reed, Blockbuster, and there are so many more. There was a time when most towns had shoe shops, bookshops, and a range of different clothing shops[…]
Many charities are considering updating or having a retail strategy for good reason. Retail is going through its biggest change in history driven by the growth of online shopping and changing consumer shopping habits and its now highly influenced by the economic recession. To write a successful charity retail strategy you require the following areas[…]
Is training strategic or operational? Many people don’t consider charity retail training as strategic; it tends to be grouped within the category of legal compliance or operational necessity. However, developing people within charity retail can be highly strategic because if done correctly it brings considerable long-term benefits. Unlike shop managers within mainstream retailers, charity shop[…]
