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In this episode we speak to Matt Dalton, consumer sector leader at Forvis Mazars. Matt discussed the biggest challenges facing the retail sector, from cost pressures and wage increases to polarised property markets and geopolitical shocks, and the ways in which retailers can best navigate these. We also explore how short-term cost-cutting could undermine long-term resilience, and how retailers can best remain agile and adaptable in unforecastable times.

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IKEA has exceeded the new real Living Wage rates in its latest pay increase, which sees staff wages rise to at least £11.30 an hour in London and £10.10 in the rest of the country.

Retail trade union Usdaw has welcomed the pay rise, as the union’s New Deal for workers calls for a minimum wage of at least £10 per hour for all workers.

Usdaw (Union of Shop, Distributive and Allied Workers) is the UK’s fifth biggest trade union with over 370,000 members.

Most Usdaw members work in the retail sector, but the union also has many members in transport, distribution, food manufacturing, chemical industry and other trades.

Dave Gill, national officer, Usdaw, said: “Usdaw and our members are very pleased to hear today that, following these discussions, the company has agreed to pay 20p, and 25p in London, above the new Living Wage rate from January, which is over £10 per hour for all staff.

“IKEA has long been a Living Wage employer and we are pleased to see them become one of a few retailers to pay more than the recommended rate. If retail is to recover, thrive and prosper employers need to invest in staff and that means decent pay, fair contracts and secure jobs.”

Retail Sector has contacted IKEA for a comment

 

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