Page 26 - MarketTimesDecember2016
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West), 25 per cent were in the North of England ie North East, North West and Yorkshire and the Humber), 17 per cent were in the Midlands and 9 per cent were in the East of England. 10 per cent of the trading locations were in Northern Ireland, Scotland and Wales.
• From the main trading location given, 47 per cent of business trade weekly, 56 per cent of which for one to two days per week and 17 per cent of which for three to four days per week. This likely reflects the businesses trading on outdoor markets and street trading pitches. Of those trading weekly from the example location, 27 per cent do so for five to seven days per week, likely reflecting those on indoor markets.
• From the main trading location given, 13 per cent trade monthly. 77 per cent trade from this location once a month and 17 per cent trade twice a month. This is likely to reflect those businesses that trade from community, farmers and specialist markets. There has been a decrease in the number of businesses trading from monthly markets since 2014-15.
• From the main trading location given, 40 per cent stated the trading location to be “other”. The majority of these described a regular circuit of annual fairs and festivals and seasonal markets. Many business owners cited their trading frequency, ranging one to seven times per year at a particular trading location.
• Respondents were asked to describe the commodity mix at their main trading location. 44 per cent stated the commodity mix to be general retail — a traditional mix of commodities with no specific theme. 56 per cent stated the commodity mix was more specialist:
9 per cent described it as antiques, car boot, collectible and flea; 21 per cent described it as arts, crafts and gifts; 19 per cent described it as artisan food, farmers and street food; and 6 per cent described it as retro
and vintage. The number of businesses describing the commodity mix as general retail at their main trading location has decreased from 60 per cent in 2014-15.
Turnover, Profit and Growth:
• Since Markets 21, published in 2009, the retail markets
sector has shrunk by over £1 billion within six years. Following the financial crash, the sector turned a corner in 2012 and has experienced gradual growth. In 2016, the collective turnover of businesses that trade on retail markets in the UK is around £2.7 billion.
• The survey in 2015 revealed that from 2012 to 2014, collective turnover increased by £400 million: £2.1 billion in financial year 2012-13 to £2.3 billion in financial year 2013-14. For financial year 2014-15, business owners reported a collective turnover of £2.5 billion.
• The survey in 2015-16 resonates with these results. Business owners report that from 2013 to 2015, collective turnover increased by £300 million: £2.4 billion in financial year 2013-14 to £2.5 billion in financial year 2014-15. For financial year 2015-16, business owners reported a collective turnover of £2.7 billion.
• 22 per cent of businesses in the sector are registered for VAT.
• In terms of the expenditure of the average business owner in the sector, he or she prioritises spending in the following order: stock, pitch fees/stall rent, travel, equipment/fittings, staff (including their own wages), energy costs, marketing, and professional fees.
• For financial year 2016-17, the majority of business owners expect to spend significantly more on stock, travel and pitch fees/stall rent. They expect to spend the same on staff (including their own wages), marketing, professional fees and energy costs. Business owners expect to spend the same of less on equipment/fittings.
• 75 per cent are confident in the longevity of their business. However, 47 per cent of business owners do not have a business plan. Of those that do, 13 per cent of these are to get through the next 12 months. 35 per cent have a business plan for the next one to two years, 23 per cent have a business plan for the next three to four years and 29 per cent are planning for their business five years ahead.
• Business owners in the sector predict that the following lines will increase significantly in 2016-17: cafés; takeaways and hot food; beer, wine and spirits; second-hand, bric-a-brac and vintage; arts, crafts and gifts; and speciality products.
• Business owners in the sector predict the following lines will decrease significantly in 2016-17: confectionery; jewellery and watches; bags and accessories, lingerie, nightwear and hosiery; books, magazines and stationery; and electrical goods.
 















































































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