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Trade News Archive 2009
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8th June 2009
Independent stores in north-west 'benefitting from recession'
The recession is causing shopping habits to change and many independent stores are reporting increased trade as a result.
According to the Bolton News, a number of cash-strapped shoppers in the north-west of England are cutting down the amount they spend at supermarkets and choosing to frequent local stores more often instead.
Kausik Vekaria, the owner of a local convenience store in Kearsley, said that people who typically used to spend £100 to £200 in supermarkets such as Asda are now spending less on their weekly shop and visiting his shop several times a week.
“Because of the recession they haven’t got the money they had before so they are being more careful and spending a little a lot of times in stores like mine," he told the paper.
Since taking over the store over two years ago, Mr Vekaria has spent £45,000 refurbishing it, a move he estimates has caused the amount of trade at the shop to double.
Last week, the Federation of Wholesale Distributors reported that the independent retail sector saw £29 billion in sales during the first quarter of 2009, up £1.7 billion compared to the same period in the previous year.
(c) 2009
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