The Bank of England has updated its advice for retailers on spotting counterfeit notes ahead of the introduction of the new King Charles banknotes next month.
The new advice from the Bank of England provides training materials that retailers can use to learn best practice for checking banknotes, including the new King Charles III banknotes. The advice highlights what to do if a counterfeit note is received, in addition to guidance dependent on whether the customer has left and how threatening they might be.
The latest banknotes with the new King Charles III designs are due to enter circulation on 5 June 2024. All new notes have the same visual security features as existing Queen Elizabeth II notes, so should be checked the same way.
When checking for counterfeit notes, it is advised to avoid using LED (Light Emitting Diode) devices as they emit light above 365 nanometres. Detector pens are also not as effective, as they aren’t able to spot counterfeits on polymer prints. UV Lamps can also be used, as they are ideal for checking the fluorescent features on notes. Alternatively, some machines are able to test banknotes, but it is vital that their software is up to date to spot the latest counterfeit notes. The machine-testing framework on the advice page will allow you to test your machines to ensure that only real banknotes are being accepted.
Retailers can access further training materials on the Bank of England website, as well as printable posters and booklets to be placed in stores and handed out to staff.
E-commerce has become a central channel for wholesalers, with a significant portion of foodservice and retail operators now shopping exclusively online, shows a recent report.
According to Lumina Intelligence’s new UK Wholesale Online Report 2024, wholesalers should prioritise eB2B strategies that deliver seamless digital experiences and ensure product visibility.
Economic pressures continue to challenge spending growth in the sector. However, targeted offers, loyalty programmes, and operational efficiencies are being used to drive more frequent purchasing and boost customer retention.
The report showcases how wholesalers such as Hancocks and Parfetts have modernised their platforms to enhance user experiences, while initiatives like Mason Foodservice’s adoption of advanced logistics software have reduced costs and improved customer satisfaction.
Lumina Intelligence further emphasises the importance of digital engagement, noting that online order frequency is increasing.
Suppliers can take advantage of this trend by implementing clear and targeted promotions on digital platforms, including personalised ads and push notifications, to capture operator attention.
Branded searches dominate the retail segment, while foodservice operators face higher search failure rates, underscoring the need for suppliers to provide comprehensive product data and align their marketing with trending search terms, such as sustainability-focused keywords.
Retailers are also more likely than foodservice operators to make impulsive purchases, presenting opportunities for suppliers to maximise conversions through compelling promotional offers, digital banners, and strategic new product placements.
The report identifies several key opportunities for the future, including the expansion of digital loyalty initiatives, such as Sugro UK’s e-loyalty scheme collaboration with b2bStore, which rewards digital purchasing behaviours to drive customer traffic and sales.
Mobile commerce continues to see strong growth, making app optimisation and mobile-specific strategies critical for wholesalers and suppliers alike.
Additionally, there is increasing demand for sustainable products, including compostable packaging, presenting suppliers with opportunities to lead in the eco-conscious market.
Cash usage is thriving as withdrawals ratcheted up for the third year in a row since the pandemic, data from Nationwide showed. The recent surge comes as many people opt for cash to budget at a time the cost of living remains high.
Britain’s biggest building society recorded around 32.8 million cash withdrawals from the 1260 ATMs at its 605 branches last year – a 10per cent increase on 2023. The average amount of cash taken out on each withdrawal from Nationwide ATMs was £112 last year.
“The rising cost of living continues to impact people and many are opting to budget with physical money to avoid getting into debt,” Otto Benz, director of payments at Nationwide Building Society, said.
“Nationwide has the largest branch network in the UK, which allows us to support customers who want access to cash, whether that be from our ATMs or over the counter.”
The busiest time of the year for cash withdrawals was the week before Christmas (w/c 16 December) where £97.9m (up 1.8 per cent on last year) was withdrawn – this is the highest amount dispensed in a week since pre-Covid.
The week leading up to Black Friday (w/c 25 November) saw £85.3m withdrawn – a 12 per cent year on year increase and the second highest weekly dispense since pre-Covid.
Prior to 2022, the number of cash withdrawals at Nationwide had been steadily declining from its 2014 peak. This fall was most pronounced when the pandemic struck, when withdrawals dropped by more than 40 per cent in a year (26.4m in 2020 v 44.5m in 2019).
Nationwide cited bank branch closures as a reason for the rise in ATM usage, which has seen vital free services being removed from high streets up and down the country. This has led to a 16 per cent increase in withdrawals from non-Nationwide customers and a four per cent increase from Nationwide customers looking to access cash, as unlike the major banks, it hasn’t closed significant numbers of branches in recent years.
Nationwide has reaffirmed its commitment to communities by continuing to offer face-to-face service, with its Branch Promise meaning everywhere it has a branch; it will remain until at least 2028.
“The major banks have closed branches in towns and cities across the country taking away many of the free ATMs that people rely on, which is why the biggest rise in withdrawals comes from non-Nationwide customers,” Benz said.
“The resurgence of cash shows why we need to continue having a physical presence on the high street, enabling customers to access their money on their terms, whether digitally or in branch.”
The biggest increase in cash withdrawals were recorded in Chiswick, West London (up 140%), Shotton, Flintshire (up 115%) and Fakenham, Norfolk (up 96%). However, many areas where Nationwide is now the last branch in town have also seen sizable increases, including Henley-on-Thames, Oxfordshire (95%), Cupar, Fife (66%) and Bromborough, Merseyside (61%). See notes to editor for top ten biggest increases2.
The rise in multi-use ATMs mean that cash withdrawals are only part of the picture. Nearly half (43%) of all transactions are for other services – from printing mini-statements and paying bills and changing PINs to paying in cash and cheques.
When it comes to depositing cash, over the last five years (2020-2024) Nationwide has seen a 21 per cent increase in the number of times its ATMs are used to deposit cash into accounts with the average amount deposited rising to £278 – 0.5% per cent increase on five years ago. However, the amount of cash being deposited is down 4 per cent compared to the peak seen in 2022.
Keep ReadingShow less
Nisa retailer Mike Sohal delivers prepared meals for the vulnerable in Warrington
Three Nisa retailers have joined forces to bring much-needed relief to their local communities in the aftermath of severe flooding over the New Year period.
Each retailer has donated £1,000 through Making a Difference Locally’s (MADL) ‘A Moment in Time’ initiative, ensuring a total of £3,000 goes directly to supporting those impacted by the floods.
Mike Sohal and Mr. and Mrs. Kuldeep Dhillon, Nisa retailers in Warrington, and Tapan Chotai, a Nisa retailer in Stockport, have each taken extraordinary steps to assist their communities.
The Warrington floods caused significant damage, particularly in the Bewsey area, leaving many families displaced and without power. Tapan’s Stockport store was directly hit by the flooding, while Mike and Kuldeep took action by cooking meals at their local Gurdwara to provide food for those affected in Warrington.
Nisa Local store in Bramhall
“The impact of the floods on our communities has been horrifying to watch so I’m delighted to be able to assist local residents who are finding it tough at the moment through no fault of their own,” Sohal said.
“I’d like to thank the MADL team at Nisa for their swift support and enabling us to get some much-needed funding to our communities.”
The funds donated by the retailers were made possible through MADL’s ‘A Moment in Time’ initiative, introduced in 2021. This unique programme enables Nisa retailers to apply for additional, time-sensitive funding to support urgent local causes when their store’s own MADL funds may not be sufficient. ‘A Moment in Time’ aims to empower retailers to respond quickly to crises and make a tangible impact in their communities.
Sarah Hall, MP for Warrington South, has also been instrumental in rallying support for the affected residents. She has launched a community fundraising campaign, the New Year Floods Appeal, which provides vital aid to those displaced by the floods. The campaign seeks to offer immediate relief, including food, supplies, and essential household items, as well as support for repairing and restoring damaged properties. Hall has called on local businesses to contribute through donations, matching funds, or in-kind support to maximise the impact.
The New Year Floods Appeal remains open for donations, welcoming contributions from individuals and businesses alike. Those wishing to support the residents of Warrington can donate via the official page: www.gofundme.com/f/NewYearFloods.
The search is underway for innovative and exciting new suppliers to join Co-op’s Incubator programme, known as The Apiary, and the opportunity to work with the convenience retailer towards a listing on its shelves.
Applications are now open for Co-op’s Incubator programme which is designed to enable early stage businesses become retail ready. Successful suppliers receive tailored mentoring, insight, advice and support on all aspects of the product journey, and also participate in a supplier community network which further facilities learning and growth.
Since the first wave of products were launched through the Apiary programme in late 2022, there are now 27 suppliers on Co-op shelves who have benefitted from its Incubator or Accelerator schemes, supplying more than 70 product lines.
Co-op’s Apiary programme looks for suppliers with a unique point of difference, who are purpose driven and, in addition to resonating with Co-op customers who would usually expect to see these products in specialist local retailers, the suppliers promote further diversity and inclusion within the convenience retailer’s range.
Rebecca Oliver-Mooney, Co-op Head of Commercial for Drinks, Frozen, Community Buying & the Apiary, said,. “It is exciting to begin the search for the fourth wave of suppliers to join our Incubator programme.
"We believe making it easier for early stage businesses to become retail ready and thrive is the right thing to do, not only to delight our members and customers in store, but helping agile new producers with the potential to disrupt and challenge the market to grow and develop to their next level.
"We know shoppers in a convenience setting look for great quality and innovation – products that make life easier, can be consumed on-the-go, or offer an element of indulgence – and we are looking for products with a real point of difference that can enthuse, excite and resonate with consumers.”
In November, Co-op added six new suppliers following their involvement on its Incubator support programme. The new suppliers were Cháps - a soft drinks brand dedicated to introducing beverages inspired by traditional African drinks to a global audience, Cheeky Nibble – snacks and cereals with vegan, top 14 allergen free, granola and flavours inspired by British desserts and drinks, ELEAT Cereal – high protein and fibre cereal which is vegan friendly and gluten-free, Family Secret - Proppadoms – a healthier snacking alternative with authentic flavours, Loro Crisps - a vegan and gluten-free plantain crisps and, Some Grub – the first pet care brand.
Last year Co-op also revealed changes to its Apiary programme to enable it to work with more smaller-scale suppliers at different stages in their brand journey.
Morrisons has announced the appointment of Michael Kosciukiewicz in the newly created role of supply chain and logistics director for convenience and wholesale.
Set to join this month, Kosciukiewicz brings extensive logistics expertise and end-to-end supply chain experience from several global retailers.
In his newly created role, he will focus on enhancing the service levels Morrisons provides to its Morrisons Daily stores and wholesale partners.
This strategic hire comes at a pivotal moment as Morrisons intensifies its investment in the convenience and wholesale sector. The company recently transitioned to a new convenience distribution network and expanded its ambient distribution capacity by relocating to a larger depot in Northampton.
As part of its efforts to deliver fresher produce to convenience stores, Morrisons has begun receiving fresh inbound deliveries directly from suppliers. Meanwhile, its fulfilment partner DHL is ramping up operations by increasing its delivery fleet and recruiting additional drivers dedicated to Morrisons’ logistics.
Ross Eggleton, group logistics, supply chain & technology director at Morrisons, commented, “We’re delighted to be welcoming Michael to our team as we kick off the new year. We are very aware that at the end of last year, a number of factors impacted our service levels for some of our convenience and wholesale customers.
"We are working hard to fully recover as quickly as possible and improve the level of service, and this great appointment is one of a number of steps we are taking to strengthen the business.”
Kosciukiewicz shared his enthusiasm for the role, stating, “I’m excited to be joining Morrisons to support the continued growth of its convenience and wholesale business. I’m looking forward to getting out into stores and meeting our partners in the coming weeks and hearing how I can support them as we grow together.”
With these initiatives and a renewed focus on service quality, Morrisons aims to solidify its position as a leader in the convenience and wholesale market.