- Three-in-five (58%) UK retail industry leaders are concerned about changes to energy costs
- Two-fifths (38%) say they have not incorporated energy management or efficiency technologies into their operations due to the perceived upfront expense
- E.ON experts advise retailers to view energy efficiency as an investment rather than just a cost
Wholesale costs of goods (63%), business rates (38%), and energy costs (30%) are the three biggest concerns for UK retailers ahead of an uncertain 2020. According to new research by E.ON1, more than half (56%) of UK retailers expect their energy costs to rise next year, but two-fifths (38%) have not yet implemented energy management solutions to improve efficiency, cut their consumption and reduce operating costs.
A third (30%) of retail leaders went as far as saying that energy costs affected their business competitiveness, more so than paying rent (29%) or insurance (20%). To combat this, many retailers are implementing lower cost measures to help reduce their energy usage. In the last year alone, almost half (46%) have installed LED lighting and more than a third (35%) have asked staff to be more energy efficient.
Iain Walker, Director of Energy Sales at E.ON, said: “With financial pressures from increased wholesale costs and business rates – not to mention the uncertainty caused by Brexit and the recent election – energy efficiency is not at the top of many retailers’ to-do lists.
