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UK Retail: Leading Globally, Serving Locally

UK Retail: Leading Globally, Serving Locally brings together data on all facets of retailing for the first time. It makes the case for urgent action from the Government to implement a credible plan for economic growth in which retail can help to power the recovery.

The report, produced for the BRC by Oxford Economics and the Oxford Institute of Retail Management, shows that the sector – a great British success story – makes major contributions to:

  • Employment and training: 10.5% of all jobs, including 40% of all under 20s in employment, are in retail; and the sector is responsible for 12% of total UK investment in training.
  • The economy and the public purse:  retailers support £47bn of output from other sectors; and the sector pays £17.5bn of the four largest taxes (9% of the UK total).
  • Delivering value for customers: goods are 5% cheaper overall than the Eurozone; and households now spend 10% of their income on food compared with a third in the 1950s.
  • Driving innovation: UK retail accounts for 11% of global internet retail sales; m-commerce is the fastest growing channel with 27% of UK adults smartphone users in 2011.

Retail is at the heart of communities up and down the country, providing jobs to local people and offering a wide choice of goods and services at competitive prices.

This report provides a valuable insight into the retail sectors’ contribution to life in the UK

 
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