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[…]
Charity Retail predictions 2023 What are the key predictions for charity retail in 2023? Background We are living in a very traumatic period with high inflation, a war in Europe, increasing interest rates, massive hikes in the cost of gas and electricity, low unemployment, considerable upward pressure on wages so there is little surprise[…]
Charity Retail Online Trading Efficiencies With the growth of online shopping changing consumer shopping habits in the UK, and it was already around 20% of retail sales prior to covid 19, it is little wonder that most charity retailers have an online operation already. Whilst the lockdown has dramatically affected retailers, especially charity retailers,[…]
We are living in unprecedented challenging economic times with most of the economic pressure coming from external sources. The cost pressures for everyone and especially charities is considerable with most being very concerned if their unrestricted income from retail will be secure in the future. To future proof a charity retail business there are a[…]
Charities should review their retail businesses every 5 years as best practice as the starting point for writing a retail strategy. This charity retail review can be carried out internally or by an external company, but if carried out internally we strongly recommend some external or independent verification by a charity retail expert, because the[…]
