Monthly Archives: December 2023

News

2024 A Year For Mobility Partnership

Written by Steven Vindevogel, Head of PANASONIC Mobile Solutions Business Division Europe

With uncertain times and technology opportunities on the horizon, Panasonic Toughbook’s European head says 2024 should be a year for mobility partnerships.

I’ve always thought speculating on next year’s business trends is much like predicting the weather. We can make an educated guess but the minute you decide that you don’t need your umbrella is the moment you get caught in a downpour.

However, what I can say confidently as we enter 2024 is that businesses are facing a period of uncertainty. On the one hand, social-economic clouds continue to hang across Europe in the form of higher costs, supply chain challenges and skilled labour shortages. But there are also encouraging beams of sunlight breaking through in the shape of technologies, such as 5G and AI, that promise to transform the way we do business in the mobility space.

Although the pathway is somewhat unclear and things are fast moving, it promises to be an exciting year of change for 2024. At these times, more than ever, businesses should remain agile and work closely with their trusted partners to guide them through this period.

Increasing adoption of 5G and AI

In the world of mobile workforces, 5G in the form of private networks promises to unlock a new wave of productivity. The uninterrupted connectivity, high bandwidth and additional security of 5G private networks will be transformative for business and education campuses, transport hubs like airports and ports, and for those hyper mobile workers in fields such as emergency services, logistics and maintenance and repairs. Devices that can take advantage of these networks are, of course, something that Panasonic TOUGHBOOK is already well prepared for.

I won’t win any prizes for predicting that AI will continue to have a big impact in 2024 but its effect on the mobile workforce is still only just beginning to take shape. However, the potential opportunities look exciting. Imagine, for example, the learnings of a maintenance and repair team in the field instantly being made available via an AI app on a mobile device for everyone in the workforce to call upon and benefit from. 

Fast growth sectors

As well as exciting technology opportunities, there are also fast growth industry sectors where business in 2024 will continue to drive innovation. Areas such as the impact of battery-power in the automotive industry, the utility sectors move to renewables from legacy systems, goods tracking in the logistics and retail industries and advanced communications in the emergency services.

A mobility partner for built-in flexibility

As opportunities arise, businesses will increasingly rely on a mobility partner to help them respond and take advantages of these innovation sectors and applications such as 5G and AI. As a result, I believe 2024 will also be the year of the mobility partner. it’s no longer enough to be a rugged device manufacturer. Mobility is complex and will become increasingly so. It’s why our focus is to continue to evolve our services to become a true mobility partner for customers.

Let me give you some examples. As different personas in the mobile workforce continue to rise, support in specifying the right device and peripherals to meet varying team needs is becoming ever more important.

Flexibility on how customers can buy their devices is another popular talking point. Businesses desire flexibility, such as an OPEX monthly finance solution, as well as the traditional CAPEX purchase option.

But it doesn’t end there. Once the rugged devices have been chosen, already busy in-house teams often want staging and roll-out support. As new opportunities arise, a partner that can offer ongoing management, development and support to optimise the deployment is important. And of course, when devices do fail, mobile workers require a replacement device immediately to avoid costly downtime while the issue can be resolved using a 48-hour repair and replacement service from a European-based configuration and repair centre.

Lastly, as we move into 2024 there will be a continued focus on sustainability. It’s a year when I believe our REVIVE programme will come into its own. When TOUGHBOOK devices are ready for replacement, this innovative scheme enables customers to send them back to us. We then refurbish and repurpose their TOUGHBOOK devices for sale or donation in the secondary market or recycle them responsibly.

So, although there may be uncertainty as we enter 2024, there are still plenty of bright spots on the horizon in the form of growth industry sectors, transformative new technologies and advances in mobility support. As a realistic optimist I’m hoping for bright weather – but remember – don’t forget your umbrella!

 

Cardiff, Cardiff News, Food & Drink, News

Croeso Pubs takes over lease of The Discovery in Lakeside

Croeso Pubs Ltd, the South Wales pub chain which already runs six venues including The Philharmonic and Brewhouse in the Welsh capital, has added The Discovery in Lakeside to its portfolio.

The pub, formerly run by Knife and Fork Food Ltd, will undergo a £400,000 major refurbishment in January and will be run by the team behind The Philharmonic, Brewhouse, Retro, Blue Bell, Daffodil, and The Dock in Cardiff Bay.

The Discovery is the first ‘community pub’ that will be run by Croeso Pubs.

 

Craig Davies, Director of Croeso Pubs, said it’s an exciting acquisition: “When we heard the lease was up for sale in June we didn’t hesitate. It’s always been a popular gastropub for the locals and we look forward to welcoming visitors to sample some of the best locally-sourced food and drink.

“The Discovery will be opening seven days a week for breakfast, lunch and dinner and will also show live sport. We can’t wait to welcome former regulars and new customers through the doors.”

Croeso Pubs Ltd has a great track history in breathing new life into venues. It took over the lease for The Philharmonic and reopened it in 2017 after a £1million refurbishment and turned it into Cardiff’s most popular nightspot. Croeso also took over former Brains pub 33 Windsor Place in December 2022 and reopened it as Daffodil, a food-led venue, that has gone from strength to strength, and whose Sunday roasts regularly sell out.

In January 2023, Croeso also added former Marston’s Brains pub The Dock in Cardiff Bay to its portfolio and in March, celebrated the 10th anniversary of the opening of Cardiff’s best loved sport and live music venue, Brewhouse.

 

Fellow Croeso Director Simon Little added: “We are enjoying huge success at our establishments in central Cardiff and Cardiff Bay. The Discovery has huge potential to be a bustling community pub and it’s fantastic to add it to the Croeso pubs family.”

 

The bar will also be showing all major sports events with full Sky, Amazon, BT and Viaplay packages.

 

Entertainment, News

10 Alternative Ways to Spend New Year’s Eve

Do you do the same thing every New Year’s Eve?  We all have our favourite, whether it’s watching Jools Holland and the fireworks on TV, or heading to spend it with family.

However, in case you are looking for something different to do this year, here are 10 alternative ways to spend New Year’s Eve:

  1. Host a themed costume party: Pick a fun theme like “Roaring Twenties,” “Under the Stars,” or “Crazy Hat” and invite friends and family to dress up and celebrate in style.
  2. Volunteer or give back: Spend the evening volunteering at a local shelter, food bank, or charity event to start the new year with a sense of purpose and goodwill.
  3. Take a nature retreat: Escape the city and welcome the new year by camping, hiking, or staying in a cozy cabin surrounded by nature.
  4. Plan a cozy night in: Create a comfy and relaxing atmosphere at home with a movie marathon, board games, or a DIY spa night with friends or family.
  5. Attend a cultural event: Explore your local arts and culture scene by attending a theater performance, concert, art exhibition, or museum event.
  6. Reflect and set goals: Spend New Year’s Eve reflecting on the past year and setting your intentions and goals for the year ahead. Write them down in a journal or vision board.
  7. Take a road trip: Embark on a spontaneous road trip to a nearby town or city you’ve never visited before and explore new places.
  8. Host a potluck dinner: Invite friends and family to bring their favorite dishes, creating a diverse and delicious feast to enjoy together.
  9. Attend a non-traditional party: Seek out alternative New Year’s Eve events like a masquerade ball, a live comedy show, or a themed dance party.
  10. Wellness retreat: Book a wellness retreat or spa day to relax, rejuvenate, and start the new year feeling refreshed and balanced.

Remember that New Year’s Eve is a time to celebrate in a way that resonates with you personally, so choose the option that aligns best with your preferences and goals for the year ahead.

And whatever you choose, Happy New Year in 2024 from the team at NTSI!

News, Retail, Retail & E-commerce

Boxing Day Footfall Down by 22.1% against 2022, Despite Promising Start

The latest insights from retail analysts MRI Software (previously Springboard) show footfall on Boxing Day rose year on year by +2.3% across all UK retail destinations up until 3pm, largely driven by high streets (+6.5%). However, full day results reveal that footfall still remained -22.1% lower than last year across all UK retail destinations.

Notably, Central London was the only town type to experience an increase in footfall, with a 12.9% rise versus 2022.

Week on week, footfall was -32.9% lower across all destination types monitored by MRI Software (high streets, retail parks and shopping centres). Shopping centres and retail parks witnessed a more severe decline of-34.8% and -47.5% from the same day in the week before.

 

Rise of Online Shopping Hitting Bricks and Mortar retail

Compared to 2019 levels, footfall remains -33.8% lower, indicating the continued impact of the rise of online shopping, the close proximity of Black Friday deterring further spend and the potential restrictions of the cost of living crisis.

Historical data from MRI Software’s OnLocation Footfall Index (from 2014 to 2022, excluding the Covid years 2020 and 2021), highlights that footfall in the week following the final trading week before Christmas tends to witness a week on week drop averaging -20%, which is to be expected given the significant boost observed in the week prior.

 

Jenni Matthews, Marketing and Insights Director at MRI Software comments: “It was encouraging to see Boxing Day footfall rise year on year by +2.3% across all UK retail destinations up until 3pm, however it wasn’t enough to bridge the gap between the figures last year in 2022.

“The footfall drop of -32.9% week on week across all destination types is not surprising given that last week consumers were finalising their festive shopping. The fact that compared to 2019 levels, footfall remains -33.8% indicates the long-term impacts of the continued rise of online shopping, as many consumers may have started their sale shopping on Christmas Day evening, and with Black Friday only a few weeks ago many will have grabbed their bargains back then. We also can’t forget that many people may be tightening their purse strings given the cost of living status, or may still be spending time with their families on Boxing Day and not be heading out to stores and destinations until later in the week.

“Therefore, it will be interesting to see how the rest of the week pans out for retail as we close out 2023.”

News

Navigating 2024: KEY Marketing Trends Set to Reshape the Landscape

Written by Matthew Biboud Lubeck, Vice President EMEA, Amperity

Research demonstrates that only 3 per cent of consumers feel in control of their data online. Yet trust is crucial to driving customer loyalty and growth. In fact, 43 per cent of people say they’d switch from their preferred brand to a second-choice brand if the latter provided a good privacy experience.

From the strategic adoption of zero-copy data practices to the intersection of customer experience aspirations with data management realities and the ever-evolving landscape of AI ethics and regulations, the year ahead promises to reshape how we approach these critical facets. Let’s dive into the practical implications and emerging trends that will redefine marketing strategies, offering valuable insights into the challenges and opportunities that lie ahead.

 

1. Zero Copy Data: Data Should Live in Fewer Places

The paid media and advertising landscape is poised for a transformative shift, driven by a recognition of the limitations in current practices. A key trend emerging in the coming year is the adoption of a zero-copy data philosophy. This approach signifies a strategic move towards centralising customer information and minimising data duplication across platforms.

Marketers will strategically embrace data minimisation in response to challenges posed by privacy regulations and consumer dissatisfaction with intrusive tracking. The industry will shift away from scattered and duplicated data sources, opting for a zero-copy data philosophy that prioritises efficient and non-redundant data access.

This transformation will extend to a comprehensive revamping of the data ecosystem, with a focus on aligning practices with the zero-copy data philosophy. Advertisers and data management platforms will reassess bidding language and communication protocols to ensure privacy and prevent data leakage.

Identity resolution will become a central focus, with advertisers seeking accurate and comprehensive first-party data to build unified customer profiles. This shift aims to address challenges arising from data deprecation and ensure a more reliable and consistent approach to customer identity.

In adopting these strategies, businesses can anticipate improved conversion rates, increased return on ad spend and reduced timelines, costs and risks associated with data management. Next year ushers in a paradigm shift towards zero-copy data practices, where businesses prioritise streamlined, non-redundant data access to enhance customer experiences and align with evolving regulatory and consumer expectations.

 

2. The Reality of the Personalisation Dream

In the coming year, we anticipate a growing realisation among brands that the aspiration for a seamless and personalised customer experience must be closely tied to effective data management and identity capabilities. While many brands may continue to showcase their “personality dream” through impressive customer journeys, we predict an increasing awareness that the actualisation of this dream hinges on addressing underlying data challenges.

Organisations will recognise the imperative to break down silos that separate data management, identity verification and customer experience teams. They will actively work towards integrating these components, acknowledging that a cohesive approach is vital for delivering the level of personalisation and efficiency customers expect. As a result, brands will invest more in modernising their data infrastructure, linking systems and training teams to utilise data accurately.

The shift will be from presenting an idealised version of customer journeys to actively resolving the practical challenges in data management and identity verification that often impede the achievement of a truly seamless customer experience. The coming year requires a transformation in mindset, recognising that the success of the “personality dream” is contingent upon addressing the intricacies of data, identity and customer interactions in a more integrated and strategic manner.

 

3. Embrace the AI Advantage (but don’t completely let go of the steering wheel)

In 2024, marketers must push the boundaries of AI adoption to improve the customer experience – scaling hyper-personalisation by integrating AI across ecosystems. Yet, many marketers continue to face a fundamental problem: How do they deliver a personalised experience to millions of customers?  And how do we explain the role of AI to consumers so transparency is maintained, especially in the context of the new European Artificial Intelligence Act (if you follow me on LinkedIn, you’ll know I VERY much support any legislation that improves digital accountability and ethical behaviours)?

 

AI will play a significant role in enabling hyper-personalisation by leveraging data analysis, predictive algorithms and machine learning to tailor experiences, offers and messaging to individual preferences and behaviours with efficiency and speed.

However, marketers need to know what questions to ask to reap the full benefits of AI. Therefore, “prompt engineering” will become a critical skill. This refers to deliberately crafting prompts or input queries to elicit specific responses or behaviours from AI models. Marketers should understand the capabilities and limitations of the AI model, and then tailor prompts to achieve their desired outcomes.

Of course, this can only be done effectively with accurate data. If the data feeding the AI is dirty or incomplete, marketers run the risk of receiving inaccurate insights that can impact their strategies and outcomes. By using AI’s predictive capabilities fed with accurate data, marketers can improve the customer experience and help brands collect and retain customers.

In this new landscape, marketers must also evolve their roles to become AI governors. This will allow them to become creative about applying AI throughout the marketing process while retaining checks and balances to remain accountable for AI-powered experiences. If done correctly, AI can help add significant speed, ease and improved performance across campaign and audience strategies. I predict we will increasingly lighten human intervention across more of these workflows, but not in the first few years of experimentation.

 

 

About the author

Matthew Biboud Lubeck, Vice President EMEA, Amperity

Matthew is the vice president of EMEA where he is responsible for the commercial expansion of Amperity, a leading customer data platform trusted by brands like Reckitt, Under Armour and Wyndham Hotels & Resorts. Lubeck joined Amperity in 2017 to help launch the company and has served in a number of key roles building sales, customer success, and marketing functions. Matthew established Amperity’s LGBTQ employee resource group (ERG) and is a trusted advisor and customer-centricity change agent to the C-suite across leading consumer brands.

Prior to Amperity, Lubeck spent 10 years with global beauty conglomerates Estee Lauder Group and L’Oréal as Group Head of Customer Data Strategy and Analytics, leading 30 brands across luxury, mass and salon professional divisions to better use data & unlock incredible beauty experiences, establishing L’Oreal as an industry leader. He resides in London with his husband and four-year-old daughter.

 

About Amperity

Amperity delivers the data confidence brands need to unlock growth by truly knowing their customers. With Amperity, brands can build a first-party data foundation to fuel customer acquisition and retention, personalise experiences that build loyalty, and manage privacy compliance. Using patented AI and ML methods, Amperity stitches together all customer interactions to build a unified view that seamlessly connects to marketing and technology tools. More than 400 brands worldwide rely on Amperity to turn data into business value, including Alaska Airlines, DICK’S Sporting Goods, Endeavour Drinks, Planet Fitness, Seattle Sounders FC, Under Armour and Wyndham Hotels & Resorts. For more information, visit amperity.com or follow us on Linkedin, Twitter, Facebook and Instagram.

Business

Poland needs to secure respect of foreign investor rights. Austrian investor in hospitality business promotes business conduct initiative.

Misleading foreign investor with false declarations results in losses estimated at PLN 10 million. Austrian investor raises doubts about legitimate business etiquette and asks Polish Arbitration Court for resolution.

Misleading with false information about the possibility of implementing a serious, multi-million investment in a prestigious restaurant in country capital – Warsaw have led to failure of investment opportunity – revealed private investor from Austria, Dr. Philipp Sabanas.

After weeks of legal dispute and negotiations, the investor is now calling for respect of foreign investors’ rights, clear guidelines of responsibility for written declarations and compensation for losses of PLN 10 million.

The Court is due to resolve a phony conflict that triggered public attention in Poland recently, where foreign investor has been lured into investment in a famous roof top capital city restaurant spot, while the building owner did not secure necessary administration approvals.According to the investor’s declaration, the owner of the building offered space for rent in 2021, signed an agreement (2022) and convinced the foreign investor to build a restaurant (on floors 28 and 32), even though City Office administration suspended the use of the building’s roof.

The owner of the building – Globalworth fund, denies wrongdoings through its local branch Spektrum Tower Ltd, in its statement of December 15, 2023, emphasizing that all the Company’s actions are undertaken in accordance with the provisions of law and with substantive support from renowned law firms. Furthermore, the company denies the claims that the position adopted by the Company regarding the possibility of using the hospitality business space was not supported by applicable legal provisions.

Unfortunately, at no stage, both when signing the lease agreement and during its implementation, the investor was not informed about legal problems or lack of consent to use the roof area for commercial purposes – Kinga Miller, investor’s legal advisor from the Wołoszański & Wspólnicy law firm was quoted as saying.

How is it possible that an international company, Globalworth, which owns over 20 office buildings in Poland (including the Spektrum Tower building in Warsaw), offers lease space, signs a contract, accepts the investment without full and appropriate use permits – questions Austrian investor.

The case will be heard by the Warsaw Court of Arbitration in coming weeks with due course to provide answers to these questions.

 

Source: https://businessjournal.pl

 

Marketing, PR and SEO

The Rising Tide of SEO: Unveiling the Secrets Behind its Soaring Popularity

In the dynamic landscape of the digital realm, Search Engine Optimisation (SEO) has emerged as the unsung hero, propelling websites to the forefront of the virtual stage.

As the virtual space (the internet) expands exponentially, the popularity of SEO has witnessed an unprecedented surge. Let’s delve into the reasons behind the growing prominence of SEO and why businesses are increasingly recognising it as a cornerstone of their online success.

The Power of Visibility

In the vast ocean of the internet, visibility is everything. SEO acts as a beacon, guiding users to relevant content and businesses. With billions of searches conducted daily on search engines like Google, Yahoo, and Bing, businesses understand that securing a spot on the first page of search results significantly enhances their chances of being discovered. The allure of increased visibility is a powerful motivator for businesses to invest in SEO strategies.

Consumer Behavior Evolution

The way consumers navigate the online world has undergone a transformation. Modern consumers rely on search engines to make informed decisions about products, services, and even everyday queries.

SEO aligns businesses with this changing consumer behavior, ensuring that they are present and easily discoverable when potential customers turn to search engines for answers. The shift in consumer behavior has made SEO, not just a marketing strategy but a fundamental aspect of digital survival.

Credibility and Trust Building

In the digital age, credibility is synonymous with trust. Websites that appear on the first page of search results are often perceived as more credible and trustworthy by users. SEO, through its multifaceted approach, helps businesses build this trust.

From optimising website content to enhancing user experience and ensuring mobile responsiveness, SEO tactics contribute to the overall credibility of a website. As consumers become savvier, businesses recognise the need to establish trust from the very first online interaction. That’s why many companies are constantly seeking affordable SEO services in the UK to succeed.

Global Marketplace and Competition

The internet has transformed the world into a global marketplace where businesses compete not just locally, but on a global scale. In this competitive landscape, SEO provides a level playing field. Small businesses can compete with industry giants by strategically optimising their online presence.

The democratisation of the digital space through SEO allows businesses of all sizes to reach a global audience, fostering healthy competition and innovation.

Analytics and Data-Driven Insights

One of the most compelling reasons behind the popularity of SEO is its inherent reliance on data. SEO strategies are not just implemented blindly; they are backed by comprehensive analytics and data-driven insights.

Businesses can track the performance of their SEO efforts, understand user behavior, and make informed decisions based on real-time data. This analytical approach not only enhances the effectiveness of SEO but also aligns it with the broader trend of data-driven decision-making in the digital era.

Mobile Revolution

With the proliferation of smartphones, the mobile revolution has taken center stage. Search engines prioritise mobile-friendly websites, and SEO has adapted to this paradigm shift. Mobile optimisation is no longer a choice but a necessity, and businesses recognise the role of SEO in ensuring their websites are accessible and user-friendly on mobile devices.

Summary

The rising popularity of SEO can be attributed to its role in enhancing visibility, aligning with evolving consumer behavior, building credibility, enabling global competition, providing data-driven insights, and adapting to the mobile revolution.

As businesses continue to navigate the digital landscape, the importance of SEO will likely continue to grow, cementing its status as a major factor in online success.

News, Property, Property Buyer News, Property News

Don’t panic! – Expert warns new data on house price fall isn’t all it seems

Property owners should try not to panic – despite new figures showing the average home is now worth £3,000 less than a year ago.

Data shows prices are down 1.2 percent in the past year, which is the biggest annual drop since the Autumn of 2011.

But Jonathan Rolande, from the National Association of Property Buyers, urged people not to panic.

And he said 2024 could still be a year where house prices start to creep back up.

Mr Rolande said: “No home owner enjoys seeing figures showing house prices have fallen.

“However, for the vast majority of homeowners this needs perspective. There was enormous inflation in prices during the post lockdown era, with some areas rising by 20% in just a year. “The relatively small retraction of £3,000, whilst disappointing, still leaves house prices far higher than they were two years ago. With the prospect of government intervention to stimulates the market once again 2024 could be the year that the average homeowner recovers that £3000 drop in value.

Mr Rolande also said he’d welcome measures in the Spring Budget to support all property owners – not just first time buyers.

“We need forward thinking ideas across the market. Yes, first time buyers need support. But we also need measures that encourage pensioners to downsize, which stimulate housebuilding and do something to address the growing crisis in this country which exists around soaring rents.”

Charity, Charity & CSR, News, South East

Chelmsford homebuilder’s charity walk raises over £16,000 for Great Ormond Street Hospital Children’s Charity

A Chelmsford-based housebuilder has completed a charity walk to raise money for its charity of the year, Great Ormond Street Hospital Children’s Charity (GOSH Charity).

The event organised by Barratt and David Wilson Homes employee, Sarah Tew, aimed to not only raise vital funds for the charity, but to also encourage team building and bring a day full of joy to its employees.

The efforts of the dedicated participants culminated in an impressive total of over £8,070 raised for GOSH Charity. This sum was matched by the developer’s Barratt Foundation cause, resulting in a final tally of over £16,140 raised for the charity.

GOSH Charity exists to support seriously ill children from across the UK who are treated at Great Ormond Street Hospital (GOSH) in London.

GOSH Charity supports the hospital’s most urgent needs across four key areas: funding pioneering research into children’s health, cutting-edge medical equipment, vital support services for children and their families, plus the essential refurbishment and rebuilding of hospital facilities.

This charity walk saw the participation of nine teams comprised of the housebuilder’s enthusiastic employees, with each team consisting of 10 members sporting distinct colours selected by their team leaders.

The spirited competition saw the teams go head-to-head in a variety of games, surprises, and engaging tasks along the scenic coastal walk route.

Prizes were awarded for the best-dressed teams, and added an extra layer of excitement to the day’s proceedings.

Marina Barnes, Charity’s Head of Community Fundraising at GOSH, said: “It has been brilliant to be the Charity of the Year for Barratt and David Wilson Homes, and this charity walk is another fantastic fundraising initiative the staff have all got behind.

“We are so grateful for their support, particularly at this time of year when families at GOSH need our support more than ever. Thank you so much to everyone involved.”

The walk commenced at Frinton Golf Course, where the housebuilder’s Managing Director, Tom Wright, delivered a speech to set the tone for the day, which was followed by light-hearted entertainment, including karaoke sessions.

Afterwards, the participants embarked on the walk covering a substantial distance. Along the way, the teams engaged in various party games and physical challenges at a beach hut and a local pub in Walton-on-the-Naze.

To enhance the overall experience, each staff member was also equipped with a kit for the day including drawstring bags and inflatable beach balls.

 

Tom Wright, Managing Director at Barratt and David Wilson Homes Eastern Counties, said: “It was heart-warming to witness our employees come together with unwavering enthusiasm to participate and show support for our wonderful charity of the year, GOSH Charity.

“The event was both tremendously enjoyable and a resounding success.”

The prizes awarded to participants were sponsored by Pharoah Fencing, CHS, Siobhan Johns Photography, Artspace, Next, Cox Landscapes, Greggs, PickandMix.com, and members of the Barratt and David Wilson Homes team.

The event’s donators included OPC Building, Paul Warren, PGM Carpentry, Robinson Plumbing and Heating Limited, New Homes Carpeting, Move Plus, Bryden Briflex Limited, GJB Newbuild, GSQ Brickwork, Naio, T-Prime Limited, FPP Facades, Evolve Law, Forrester Hughes, DT Tiling, Baines Gardening Limited and APS Bricklaying.

To find out more about the charity or to make a donation, visit GOSH Charity’s website.

For more information about the housebuilder’s developments in the county, visit the websites at Barratt Homes in Essex and David Wilson Homes in Essex.

Finance and Banking

The Rise of Chargebacks: A Worrying Consumer Trend for UK Retailers

Chargebacks, the credit card dispute function that is meant to offer consumers a layer of protection when purchasing products, are quickly turning from rare squabbles into profit-eating parasites for many retailers across the UK. New data from the IMRG x Just Online retail and customer chargebacks study reveals these transaction reversals have surged 29 percent since 2019. 

More worryingly, 44 percent of British shoppers admitted to filing at least one chargeback within the past year. Yet 60 percent have no idea merchants shoulder the cost rather than banks or credit card companies.

For merchants, the impact isn’t just the lost income. Beyond material losses, retailers also face chargeback processing costs. Once a chargeback is raised, a retailer would have to resell that same product up to eight times to recoup the cost of that chargeback. Given the high volume of chargebacks reported, you can already see how these extortionate fees can rapidly eat into margins

With rising living costs driving more Brits toward chargeback claims for financial relief, these alarming numbers could be just the beginning. Ethical merchants now risk sinking slowly into the quicksand unless solutions are found quickly.

 

Understanding Chargebacks

So, what are chargebacks anyway? In short, a chargeback is a reversal of a credit or debit card transaction that returns funds to the cardholder. Chargebacks were originally created to serve as a consumer protection method for card users to dispute certain charges from their bank or credit provider.

In the UK, chargeback rules are dictated by card networks like Visa and Mastercard. They provide cardholders a means of essentially “undoing” a transaction they perceive as unsatisfactory for any reason. After filing a claim, the card network pulls the charge amount back from the retailer’s merchant account.

The retailer then has some time to choose to either accept the chargeback or contest it with evidence to try recovering the funds. For the consumer, it provides a form of transaction insurance to minimize financial disruption. For the merchant, it creates costs and operational headaches, especially if managing high volumes of chargebacks.

 

Why Consumers File Chargebacks (Legitimately)

Chargebacks were established to empower shoppers who experience genuine post-purchase problems. When used responsibly, they remain useful tools for reversing:

  • Unauthorized credit card charges
  • Undelivered goods after payment
  • Severely misrepresented or flawed items
  • Mistakes rectifying canceled subscriptions

Essentially if a retailer egregiously fails to uphold their billing or fulfilment duties, chargebacks offer an accessible recourse for consumers to dispute charges and halt financial bleeding. Of course, the system relies heavily on user integrity and honesty when filing claims – and that leaves the system open to abuse. 

In reality, many customers reach for chargebacks to alleviate retail frustrations across the spectrum – from minor inconveniences to major fraud. Below are top scenarios that see consumers crying chargeback:

  • Non-delivery after 2-5 days
  • Items slightly damaged or different from the website description
  • Change of mind/fit/style opinions
  • Store policy disagreements
  • General financial motivations

This range demonstrates why proper chargeback processes grow complex very quickly. Determining claim legitimacy puts immense pressure on banks and card companies assessing volumes of cases – and it is the merchant that usually ends up with the short end of the stick.

 

What Do Friendly Fraudsters Stand To Gain?

So why would otherwise upstanding customers risk committing “friendly fraud” via illegitimate chargebacks? Well, the incentives range from recouping small annoyances to satisfying larger financial motivations.

On minor ends of the spectrum, some friendly fraudsters use chargebacks simply to reverse bothersome impulse purchase regrets or get refunds on items that don’t perfectly fit. The mindset claims “the company won’t miss the money.”

More extreme friendly fraud can feel almost victimless from the claimant’s perspective – especially when sticking it to faceless corporations. Other cases involve blatant greed, like charging back correctly delivered £200 trainers just to secure free shoes.

Between hassle-free money returns and lack of repercussions, the sad incentives push ethical boundaries for many shoppers. And friendly fraud breeds higher retailer costs which translate to inflated prices that penalise honest shoppers.

 

How Merchants Can Protect Themselves

As chargebacks rise, what options do UK retailers have to safeguard margins and reputation?

  • Strengthen return/refund policies – Offer hassle-free returns up to 60 days. This provides an alternate recourse over chargebacks for dissatisfied yet honest customers. Just ensure policies don’t enable outright abuse.

  • Expand customer communication – Proactively email customers shipment status updates and set proper expectations around handling times, product attributes, quality promises, etc.

  • Introduce customer service friction – For high-risk categories like luxury apparel with frequent “change of mind” disputes, consider requiring pre-authorizations on costly purchases. This adds a speed bump before expensive chargebacks get triggered.

  • Watch for friendly fraud red flags – Profile high-frequency filers and look for suspicious patterns like multiple chargebacks from the same card/addresses. Too many disputes from a single source likely indicate abuse rather than a string of misfortunes.

In Closing

In wrapping things up, it’s easy to see that the current trend of unwarranted chargebacks can’t last forever. When consumers dispute charges without cause, those costs eventually come out of someone else’s pocket down the line. Retailers work on thin margins as it is. At the same time, companies need to show customers they can be trusted – while also protecting their bottom line from fraudulent abuses of the system.

From an education and public awareness standpoint, if consumers realize disputing a legit purchase means losses out of someone else’s wages or livelihood, maybe they’ll hesitate before claiming fraud just because they changed their mind. Meanwhile, merchants know keeping good records and customer service can earn them the benefit of the doubt when issues do arise.

With cooperation from all sides, incentives could be realigned in a way that encourages responsibility without punishing people for honest mistakes.