UK: Only 9% of independent retailers are planning to invest in their business in the future – a new low according to the Association of Convenience Stores (ACS).
However, of those that are investing, 40% are looking at more efficient refrigeration.
The figures from the ACS quarterly Voice of Local Shops Survey represent a decline from 16% last May, and are the lowest since the survey began in 2012.
In addition to holding off future investment plans, retailers have already shown a decline in the amount they have invested over the past three months. Overall investment levels in the convenience sector are said to have fallen from £147m in February 2019 to £112m this quarter.
The ACS highlights two factors in particular for the decline – the latest hike in the minimum wage and the ongoing uncertainty over the UK’s exit from the European Union.
For those who are choosing to invest, the most common areas of investment were refrigeration (40%), shelving (21%) and in-store lighting (13%).