It looks as though shoppers have largely ignored the Brexit chaos in Westminster and enjoyed spending over the Easter Bank Holiday weekend in 2019. Year on year sales are up, possibly in part due to last year’s ‘beast from the east’ falling in the same quarter. With record temperatures across all four nations of the United Kingdom, it looks like the weather has played a significant role in bolstering sales.
Easter Boost for small business owners
The Easter bank holiday weekend in 2019 has given retailers and those in the hospitality sector a well-deserved boost. Hotels, Bed and Breakfasts, Pubs, Cafe’s, Bars, Restaurants and many high street stores have all confirmed an increase in sales compared to last year.
Managed Pub groups have all reported sales collectively up around 4% and restaurant groups reporting increases of 3.7%.
Temperatures up and sales are up
Easter Bank Holiday Monday also saw record temperatures across all four nations according to the Met office with England hitting 25C (77F), Scotland hitting 24.2C (75.6F), 23.6C (74.4F) in Wales and 21.4 (70.5F) in Northern Ireland.
Staycations are good for business
With the growing popularity of ‘Staycations’ (holidaymakers choosing to holiday in the UK), the hospitality, leisure and retail sectors are embracing positive forecasts both with the weather and on their balance sheets. The weakness of the pound abroad combined with travel uncertainty and Brexit confusion is leading consumers to ‘stay-put’ this summer.
Alternative Finance Investment in UK business
“It’s great to see a positive outlook for the UK retail and hospitality sector in 2019. Easter 2019 has given small business owners a real boost to their bottom line for the start of the holiday season, and that trend is looking to continue. Tourist hot spots are also better equipped due to significant investment from the alternative finance space.
We have helped many small business owners invest in their own business via our merchant cash advance product ready for surges in trading like we’ve seen this weekend. As our funding product is a good fit for the hospitality and retail sector, it’s been rewarding to know that many businesses were in an excellent place to deal with the extra trade”. Rich Wilcock, MLA.
Retail spending has been helped in the first quarter of 2019 due to the lowest unemployment rate in over 40 years and by salaries growing at a faster rate than prices.