Social distancing goes out the window on the road to retail revival

A scrum of shoppers outside NikeTown formed as the store prepared to reopen on Monday morning, with reports of customers pushing and shoving each other in a bid to be first through the doors.

Social distancing was enforced at Selfridges by encouraging shoppers to queue for escalators, but the department store’s policy of asking customers not to touch items unless they intended to buy them appeared to confuse some shoppers.

Many retailers have chosen to keep fitting rooms closed for the foreseeable future, but this did not deter some customers who tried on hats and other items on the shop

Read More

Chief executives urge MPs to extend social investment tax relief

More than 30 chief executives have urged MPs to extend the use of the little-known social investment tax relief due to end next year.

Investors can save up to £1m into socially responsible investments and claim a 30pc tax break which can be backdated. All gains are exempt from capital gains tax, and if structured as shares rather than debt, loss relief is available for income and inheritance tax purposes.

Firms including the Big Issue Invest, Big Society Capital and Impact Investing Institute wrote to Jesse Norman, the Financial Secretary to the Treasury, to push back the end of the

Read More

Trade war drains China’s social security system

BEIJING — China’s social insurance program is not aging well.

The trade war with U.S. and the coronavirus pandemic forced the government to repeatedly offer generous stimulus to ease Chinese companies’ burden of social welfare contributions.

But this led to a smaller pension pot. Social security expenditures for fiscal 2020 are set to exceed revenues for the first time since 1998, creating red ink.

This comes at a particularly unfortunate time for the country’s social safety net as a large chunk of China’s own baby boom generation reaches retirement age in 2022.

China offers seven types of programs to citizens

Read More

Kantar: Consumers want brands to take stance on social issues, but demographic divides remain

Dive Brief:

  • As tensions around racial justice increase in the U.S., 68% of consumers expect brands to be clear about their values, according to a report from Kantar Monitor shared with Marketing Dive.
  • That number rises depending on a consumer’s ethnicity or other demographic group, with 69% of Hispanics, 71% of LGBTQ+, 79% of Asian Americans and 82% of African Americans expecting brands to speak up about where they stand on current societal issues.
  • Millennials have the highest expectations for brands to speak out, Kantar found. Forty-six percent of the age group expect brands to be brave, followed by 42%
Read More