Sirius Bulletin - 23rd February 2022
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Fashion retail
Sales surge in February
Fashion sales in the UK increased by 61.5% year-on-year in the week to 6 February 2022. Total in-store sales increased by 3,851% year-on-year but total non-store sales fel I by 18.93%.
Read more about the increase at: www.drapersonline.com/news/fashion-sales-surge-in-february
Road haulage
Operators can use greener HGVs
More environmentally friendly heavy goods vehicles (HGVs) can be used on Britain’s roads. Haulage companies can now use vehicles with elongated cabs and aerodynamic features fitted on the back, which help reduce fuel consumption.
Read more about the vehicles at: www.gov.uk/government/news/hgv-operators-can-now-use-aerodynamic-features-and-longer-cabs-to-reduce fuel-consumption-and-emissions
Property
Ground rent reforms a ‘concern’
Reforms to ground rent rules that are set to come into force in England and Wales could lead to higher sale prices for retirement living operators. The rules will prevent freeholders from charging ground rents for communal areas which often take up approximately 30% of a site.
Read more about the rules at: www.pinsentmasons.com/out-law/news/english-ground-rent-reforms-a-concern-for-retirement-living-operators
Review of pig industry announced
The Government has announced an immediate review of fairness in the pig industry supply chain. An estimated 200,000 pigs are stuck on farms and cannot be taken to slaughter.
Read more about the review at: www.theguardian.com/business/2022/feb/10/uk-pig-industry-review-announced-as-200000-animals-stranded on-farms?
Retail
Contracts cancelled due to sustainability concerns
In 2021, UK retailers cancelled £7.1 billion in contracts with suppliers that did not meet the criteria for their ethical and sustainability standards. On average, retail businesses with more than 10 staff are investing £504,000 per year to improve their own carbon footprint.
Read more about the contracts at: www.retailgazette.co.uk/blog/2022/02/retailers-cancel-7bn-in-contracts-after-supply-chain-clean-upl?
Automotive
Growth in used car sales
The UK’s used car market grew by 11.5% to 7,530,956 transactions in 2021. Despite the growth, 2021 was still 5.5% below the pre-pandemic five-year average.
Read more about the figures at: www.alphabet.com/en-gb/auto-digest/used-car-market-despite-volatile-year
Car maintenance
New vehicle information portal
The Independent Garage Association is launching GarageSafe to establish and maintain access to security-level vehicle information for independent garages. The portal is based on the USA’s National Automotive Service Task Force which has security and key coding information for many vehicle manufacturers.
Read more about the portal at: www.rmif.eo.uk/en/bulletins/831
Agriculture
Ocado to invest in vertical farming
Vertical farming is forecast to grow by 20% per year between 2022 and 2030. Investment in vertical farming reached more than £1.7 billion in 2021, a 161% increase on 2020. Ocacio has announced plans to build a virtual farm near Bristol.
Read more about the forecast at: www.grocerygazette.co.uk/2022/02/15/ocado-paving-the-way-for-vertical-farming/?
Organic produce
Growth in market
The UK’s organic market is worth £3 billion after sales grew 5.2% in 2021. The growth was driven by online and box scheme sales, which grew by 13%. Independent retailers also reported a 9% increase in sales or organic products.
Read more about the growth at: www.speciaIityfoodmagazine.com/news/the-organic-market-reached-a-record-vaIue-in-2021-heres-why
DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.