Rail strikes have cost retailers around £48 million however ‘businesses in small towns did benefit’ – London Business News | London Wallet

Retailers have lost an estimated £48 million as a result of the rail strikes which are impacting businesses across the UK.

According to a payment processing company, big cities are hugely suffering, but local towns are benefiting by a local boost.

Jon Knott, Head of Customer Insight at Dojo, said  the strikes have coincided with January sales hitting the high street.

He added that this is “an important time for small businesses to boost sales in what has been a challenging financial year.”

Knott said, “Data from Dojo has shown the impact of previous industrial action on retail and hospitality businesses across the country, with big cities like London and Leeds suffering the most due to the rail strikes in December.

“The data reveals that the share of spend decreased by -1.9% in bigger cities during this period, which in real terms equates to an estimated loss of £48.4m, as leisure and commuter travel reduced and people made the decision to shop locally.

“However, businesses in small towns did benefit with the data showing a 4% boost in share of spend vs expected spend for that period, adding an estimated £80.6m in spend impact.”