Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking & Finance Review®

Global Banking & Finance Review® - Subscribe to our newsletter

Company

    GBAF Logo
    • About Us
    • Advertising and Sponsorship
    • Profile & Readership
    • Contact Us
    • Latest News
    • Privacy & Cookies Policies
    • Terms of Use
    • Advertising Terms
    • Issue 81
    • Issue 80
    • Issue 79
    • Issue 78
    • Issue 77
    • Issue 76
    • Issue 75
    • Issue 74
    • Issue 73
    • Issue 72
    • Issue 71
    • Issue 70
    • View All
    • About the Awards
    • Awards Timetable
    • Awards Winners
    • Submit Nominations
    • Testimonials
    • Media Room
    • FAQ
    • Asset Management Awards
    • Brand of the Year Awards
    • Business Awards
    • Cash Management Banking Awards
    • Banking Technology Awards
    • CEO Awards
    • Customer Service Awards
    • CSR Awards
    • Deal of the Year Awards
    • Corporate Governance Awards
    • Corporate Banking Awards
    • Digital Transformation Awards
    • Fintech Awards
    • Education & Training Awards
    • ESG & Sustainability Awards
    • ESG Awards
    • Forex Banking Awards
    • Innovation Awards
    • Insurance & Takaful Awards
    • Investment Banking Awards
    • Investor Relations Awards
    • Leadership Awards
    • Islamic Banking Awards
    • Real Estate Awards
    • Project Finance Awards
    • Process & Product Awards
    • Telecommunication Awards
    • HR & Recruitment Awards
    • Trade Finance Awards
    • The Next 100 Global Awards
    • Wealth Management Awards
    • Travel Awards
    • Years of Excellence Awards
    • Publishing Principles
    • Ownership & Funding
    • Corrections Policy
    • Editorial Code of Ethics
    • Diversity & Inclusion Policy
    • Fact Checking Policy
    Original content: Global Banking and Finance Review - https://www.globalbankingandfinance.com

    A global financial intelligence and recognition platform delivering authoritative insights, data-driven analysis, and institutional benchmarking across Banking, Capital Markets, Investment, Technology, and Financial Infrastructure.

    Copyright © 2010-2026 - All Rights Reserved. | Sitemap | Tags

    Editorial & Advertiser disclosure

    Global Banking & Finance Review® is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    1. Home
    2. >Business
    3. >MISINFORMATION ONLINE COSTS INDEPENDENT HIGH STREET BUSINESSES £6.1 BILLION A YEAR
    Business

    Misinformation Online Costs Independent High Street Businesses £6.1 Billion a Year

    Published by Gbaf News

    Posted on August 3, 2017

    6 min read

    Last updated: January 21, 2026

    Add as preferred source on Google
    This image depicts a graph showing the significant drop in German retail sales as COVID-19 restrictions impacted consumer behavior during the holiday season. The decline of 5.5% in December highlights the economic challenges faced by Germany's retail sector amid ongoing pandemic regulations.
    Graph illustrating decline in German retail sales amid COVID-19 restrictions - Global Banking & Finance Review
    Why waste money on news and opinion when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    • 67% of consumers now look online for information before heading to a physical shop
    • Yet, 61% of independent businesses, including restaurants, hairdressers, pharmacists and convenience shops, have inaccurate or missing opening hours listed on the web
    • This is costing independent high street businesses £6.1 billion a year in lost revenue
    • The UK Domain is urging businesses to check and take charge of their online information

    Inaccurate or missing online information is costing independent businesses £6.1 billion a year in lost revenue, according to data published today by the UK Domain.1

    Despite nearly seven in ten (67%) customers-to-be checking the web when planning to visit a physical business,2 61% of independent businesses have inaccurate opening hours listed online, or none at all.3

    Businesses are often victims of inaccurate online listings that search engines share for the world to see. They may have no idea that these listings are there and the information shared is often unverified by the businesses themselves, relying on crowdsourced data and potentially unreliable third-party sources.4

    The cost of inaccuracies

    The consequences for independent businesses are huge. Almost two-thirds (63%) of shoppers would never return to an independent business if they arrived to find that the business was shut and that they’d had a wasted journey, despite online information stating it was open.2

    The winners here are the established chains: the certainty afforded by their more established and accurate online presence lures in more customers. 71% of people polled say once their trust has been lost by an independent business, either due to inaccurate information or another factor, they are more likely to turn to established chains.2

    Ultimately, this costs independent high street businesses up to £6.1 billion in lost revenue every year as consumers spend elsewhere.1 This, coupled with the hike in business rates, where a fifth are expecting to see a rise of more than 40%, makes the retail environment increasingly challenging.5

    As a champion of getting small businesses online, the UK Domain is encouraging all independent high street businesses to take charge of their web presence. Those with a website are more likely to win the confidence of potential customers because 69% of UK consumers trust businesses that have one.2

    Online ‘must haves’

    It’s not all about click-and-collect or buying online, the six most important things UK consumers want to be able to find at the click of a button are: 

    Most important pieces of information on a website2
    1 Opening hours (87%)
    2 Product information (86%)
    3 Opening days (85%)
    4 Address (81%)
    5 Contact information (78%)
    6 Business background (36%)

    Helen Tomes, Director of Marketing and Service Delivery at Nominetwhich runs the UK Domain, added, “Most independent businesses are online – whether they realise it or not – but unfortunately there’s no guarantee that basic information like the address and opening hours displayed about them is correct. Inaccuracies can directly impact sales, and so just as you’d never ignore a customer who visited your shop, in a world where time-poor shoppers research online, causing them a wasted trip is tantamount to poor customer service and could alienate them in the future.

    “We’d strongly encourage businesses to review the information that exists about them on the web and to correct any errors. Creating a simple website outlining what you sell, when you’re open and where you’re based is an easy step to save yourself and your customers time and to improve opportunities for your business.”

    • 67% of consumers now look online for information before heading to a physical shop
    • Yet, 61% of independent businesses, including restaurants, hairdressers, pharmacists and convenience shops, have inaccurate or missing opening hours listed on the web
    • This is costing independent high street businesses £6.1 billion a year in lost revenue
    • The UK Domain is urging businesses to check and take charge of their online information

    Inaccurate or missing online information is costing independent businesses £6.1 billion a year in lost revenue, according to data published today by the UK Domain.1

    Despite nearly seven in ten (67%) customers-to-be checking the web when planning to visit a physical business,2 61% of independent businesses have inaccurate opening hours listed online, or none at all.3

    Businesses are often victims of inaccurate online listings that search engines share for the world to see. They may have no idea that these listings are there and the information shared is often unverified by the businesses themselves, relying on crowdsourced data and potentially unreliable third-party sources.4

    The cost of inaccuracies

    The consequences for independent businesses are huge. Almost two-thirds (63%) of shoppers would never return to an independent business if they arrived to find that the business was shut and that they’d had a wasted journey, despite online information stating it was open.2

    The winners here are the established chains: the certainty afforded by their more established and accurate online presence lures in more customers. 71% of people polled say once their trust has been lost by an independent business, either due to inaccurate information or another factor, they are more likely to turn to established chains.2

    Ultimately, this costs independent high street businesses up to £6.1 billion in lost revenue every year as consumers spend elsewhere.1 This, coupled with the hike in business rates, where a fifth are expecting to see a rise of more than 40%, makes the retail environment increasingly challenging.5

    As a champion of getting small businesses online, the UK Domain is encouraging all independent high street businesses to take charge of their web presence. Those with a website are more likely to win the confidence of potential customers because 69% of UK consumers trust businesses that have one.2

    Online ‘must haves’

    It’s not all about click-and-collect or buying online, the six most important things UK consumers want to be able to find at the click of a button are: 

    Most important pieces of information on a website2
    1Opening hours (87%)
    2Product information (86%)
    3Opening days (85%)
    4Address (81%)
    5Contact information (78%)
    6Business background (36%)

    Helen Tomes, Director of Marketing and Service Delivery at Nominetwhich runs the UK Domain, added, “Most independent businesses are online – whether they realise it or not – but unfortunately there’s no guarantee that basic information like the address and opening hours displayed about them is correct. Inaccuracies can directly impact sales, and so just as you’d never ignore a customer who visited your shop, in a world where time-poor shoppers research online, causing them a wasted trip is tantamount to poor customer service and could alienate them in the future.

    “We’d strongly encourage businesses to review the information that exists about them on the web and to correct any errors. Creating a simple website outlining what you sell, when you’re open and where you’re based is an easy step to save yourself and your customers time and to improve opportunities for your business.”

    More from Business

    Explore more articles in the Business category

    Image for Submit Your Entry for Years of Excellence Awards 2026
    Submit Your Entry for Years of Excellence Awards 2026
    Image for Nominations Open for Travel & Hospitality Awards 2026
    Nominations Open for Travel & Hospitality Awards 2026
    Image for Submit Your Entry Today for Telecom Awards 2026
    Submit Your Entry Today for Telecom Awards 2026
    Image for Submit Your Entries for The Next 100 Global Awards 2026
    Submit Your Entries for the Next 100 Global Awards 2026
    Image for Submit Your Entry: Public Sector & Governance Excellence Awards 2026
    Submit Your Entry: Public Sector & Governance Excellence Awards 2026
    Image for Nominations Invited for Real Estate Development Awards 2026
    Nominations Invited for Real Estate Development Awards 2026
    Image for Submit Your Entry: Process & Product Awards 2026
    Submit Your Entry: Process & Product Awards 2026
    Image for Call for Entries: HR & Recruitment Awards 2026
    Call for Entries: HR & Recruitment Awards 2026
    Image for Submit Your Nominations Today for Education & Training Awards 2026
    Submit Your Nominations Today for Education & Training Awards 2026
    Image for Join the Corporate Governance Awards 2026: Showcase Your Organisation’s Leadership
    Join the Corporate Governance Awards 2026: Showcase Your Organisation’s Leadership
    Image for Submit Your Entry Today for Business Awards 2026
    Submit Your Entry Today for Business Awards 2026
    Image for Decentralized Masters’ ‘family culture’ building trust instead of hierarchy
    Decentralized Masters’ ‘family Culture’ Building Trust Instead of Hierarchy
    View All Business Posts
    Previous Business PostThe Modern Ghostbusters Keeping Customer Scares at Bay
    Next Business PostInternational Cooperation Dominating Cross-Border M&A Tax Landscape