40 stores to close... (part 3)

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expressman33
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Re: 40 stores to close... (part 3)

Post by expressman33 » Mon Jan 28, 2019 11:03 am

A good idea would be for banks to lease out premises which they could all use and even share the staff costs. I'm sure the IT experts could work out a solution ( you can take money out of a cashpoint whoever you bank with)

blythburgh
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Re: 40 stores to close... (part 3)

Post by blythburgh » Mon Jan 28, 2019 11:26 am

expressman33 wrote:
Mon Jan 28, 2019 11:03 am
A good idea would be for banks to lease out premises which they could all use and even share the staff costs. I'm sure the IT experts could work out a solution ( you can take money out of a cashpoint whoever you bank with)
That is what they were doing in Santiago Chile in 2010 but here they prefer to close branches and say you can use online or a post office.

And then you hear that in a village not close to towns the PO has closed down and nobody wants to take it over because the shop/PO does not make enough profit. And do not blame the villagers as so many of the local properties have become 2nd homes. Even those rented out to holiday makers are empty for months of the year. Must admit we use these 2nd homes for our holidays, but we make sure we shop in the village store.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

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Re: 40 stores to close... (part 3)

Post by pabenny » Mon Jan 28, 2019 12:20 pm

Although people bemoan the loss of counter services, for a bank the main reason to have branches is the opportunity to sell products that generate income. If we're all borrowing, signing up for credit cards, opening new savings accounts with online providers that offer better rates (or cashback), the banks' reason to have branches disappears.

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Re: 40 stores to close... (part 3)

Post by Constantine » Mon Jan 28, 2019 4:11 pm

Boro Boy wrote:
Sun Jan 27, 2019 7:20 pm
I was interested to read: "More than 10,000 jobs have been cut at Tesco since the current chief executive, Dave Lewis, took over in 2014." ...And now a further 15,000 job losses are targeted! https://www.bbc.co.uk/news/business-47023001
Interestingly enough, Tesco's woes have nothing to do with competition from online grocers. And everything to do with Aldi and Lidl, neither of whom have an online grocery operation. Both the Germans are experiencing double digit growth by simply opening new stores and offering cheaper prices.

The nation's one and only dedicated online grocer, Ocado, has spent 20 years getting a teeny 1% market share, its growth has stalled and looks positively anemic compared to Aldi's.

Or as Kantar explains;

Meanwhile, Ocado’s market share fell by 0.1 percentage points despite growth of 1.3%. McKevitt commented: “Unlike its high street counterpart, the grocery market has been less affected by the move to online. Although e-commerce is growing – up 3.9% compared to this time last year – online grocery shopping is failing to attract new customers. Instead, growth stemmed from existing customers spending an additional £9.07 over the month of December.

Sometimes offline wins. :)

And in the weekend news, M&S and Ocado are having talks. The suggestion is that M&S may buy Ocado's grocery business.

Latest grocery stats
https://www.kamcity.com/namnews/uk-and- ... as-period/
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Re: 40 stores to close... (part 3)

Post by Constantine » Mon Jan 28, 2019 4:18 pm

expressman33 wrote:
Mon Jan 28, 2019 11:03 am
A good idea would be for banks to lease out premises which they could all use and even share the staff costs. I'm sure the IT experts could work out a solution ( you can take money out of a cashpoint whoever you bank with)
There are about 300 or so banks in the UK, maybe about 40 building societies. That's a lot of systems for one poor bank clerk to have to deal with. :)

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Re: 40 stores to close... (part 3)

Post by Constantine » Mon Jan 28, 2019 4:24 pm

blythburgh wrote:
Mon Jan 28, 2019 11:26 am
...
And then you hear that in a village not close to towns the PO has closed down and nobody wants to take it over because the shop/PO does not make enough profit. ..
Sub post offices have never made much money ever since New Labour decided to stop paying benefits in cash.

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Re: 40 stores to close... (part 3)

Post by pakefield » Mon Jan 28, 2019 7:18 pm

Constantine wrote:
Mon Jan 28, 2019 4:24 pm
blythburgh wrote:
Mon Jan 28, 2019 11:26 am
...
And then you hear that in a village not close to towns the PO has closed down and nobody wants to take it over because the shop/PO does not make enough profit. ..
Sub post offices have never made much money ever since New Labour decided to stop paying benefits in cash.
And for many people on benefits cash is the best way for them to budget.

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Re: 40 stores to close... (part 3)

Post by Constantine » Tue Jan 29, 2019 9:28 pm

pakefield wrote:
Mon Jan 28, 2019 7:18 pm

And for many people on benefits cash is the best way for them to budget.
Indeed it is, which is why access to free ATMs would be an issue.

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Re: 40 stores to close... (part 3)

Post by pabenny » Wed Jan 30, 2019 6:27 am

pakefield wrote:
Mon Jan 28, 2019 7:18 pm
And for many people on benefits cash is the best way for them to budget.
I hear that claim from time to time. Is there any evidence (beyond anecdote) for it?
Constantine wrote:
Mon Jan 28, 2019 4:24 pm
...since New Labour decided to stop paying benefits in cash.
Was this a New Labour policy or just the decision of the government of the day? My guess is that it would have happened anyway, whichever party was in power - lower cost for the government, reduced risk of theft along the way and reduced risk of fraud*. (*not certain about this one. Cash is untraceable once handed over. Money in the banking system leaves a trail, making it easier to track and trace fraudsters)

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Re: 40 stores to close... (part 3)

Post by blythburgh » Wed Jan 30, 2019 10:38 am

pabenny wrote:
Wed Jan 30, 2019 6:27 am
pakefield wrote:
Mon Jan 28, 2019 7:18 pm
And for many people on benefits cash is the best way for them to budget.
I hear that claim from time to time. Is there any evidence (beyond anecdote) for it?
Constantine wrote:
Mon Jan 28, 2019 4:24 pm
...since New Labour decided to stop paying benefits in cash.
Was this a New Labour policy or just the decision of the government of the day? My guess is that it would have happened anyway, whichever party was in power - lower cost for the government, reduced risk of theft along the way and reduced risk of fraud*. (*not certain about this one. Cash is untraceable once handed over. Money in the banking system leaves a trail, making it easier to track and trace fraudsters)
If you have the money in your purse/wallet/pocket you can put money into the leccy/gas jar and the jar/s for any other things you have to pay for that week/fornight/month. Then you can spend the money knowing you are not getting into debt. Easy to use a card and not always keep track of your spending especially if there is not an atm handy.

But I agree with you about stopping paying benefits in cash, it would have happened who ever was in power as it is so much cheaper for the Govt.
Keep smiling because the light at the end of someone's tunnel may be you, Ron Cheneler

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