New quarterly data from V12 Retail Finance shows that UK consumers continued to turn to point-of-sale finance for high-value purchases in the third quarter of 2026. Total finance values across the platform grew 7% between July and September compared with Q3 2025, and were almost 20% higher than in the same period of 2024. The quarter got off to a challenging start as prolonged hot weather and a busy international sporting calendar disrupted normal shopping patterns in July. However, each month of the quarter was ahead of the same month in 2025, and demand strengthened as the summer went on. As in the first half of the year, growth came mainly from categories linked to the home, health and practical everyday purchases. This suggests that households remain willing to commit to significant spending, but continue to be selective about where they do so. Andrew Phillips, Managing Director of V12 Retail Finance said: "The third quarter shows a consumer who is still willing to spend on what matters most, even when the backdrop is far from straightforward. July was a difficult month for many retailers, but demand held up and strengthened through August and September." "The standout trend is the continued investment households are making in their homes. Home improvement finance more than doubled year on year in the quarter, and that reflects a broader shift we have been tracking for some time, as people choose to improve the homes they already have rather than move." "Consumers remain cautious about the wider economic picture, and we expect them to stay selective. But the strength and breadth of demand across our portfolio gives us confidence as retailers head into Black Friday and the Christmas trading period." Home improvements emerge as the defining trend of 2026 Home Improvements was a standout performer in V12’s portfolio in Q3. Finance values rose by around 112% year on year, and the pace of growth increased each month. Values were up approximately 56% in July, 107% in August and 163% in September. The category has now grown almost fourfold in quarterly value since Q3 2024, and now accounts for around 7% of total finance values, compared with less than 4% in the same period last year. Across the first nine months of 2026, home improvement finance values are up by around 73% year on year. This builds on the multi-year pattern of increased investment in property-related projects that V12's earlier data releases highlighted. Furniture remains the anchor of demand Furniture remained the largest category by a significant margin, accounting for close to 49% of all finance values in Q3 2026. Finance values held broadly stable, rising around 1.5% year on year on what had been a strong Q3 2025. Performance varied through the quarter, with July softer as warm weather reduced footfall, particularly at retail park locations. August was a stronger month for the category, with finance values rising nearly 9% year on year as cooler temperatures and Bank Holiday promotional activity brought customers back to stores. On August Bank Holiday Monday alone, applications approved across V12's portfolio rose by almost 40% compared with the same day in 2025, with furniture retailers making a significant contribution. Healthcare and practical categories continue to grow Healthcare and dental finance values rose by around 6% year on year, and are up by more than a third compared with Q3 2024. The category accounted for around 12% of V12's total finance values in the quarter. This reflects continued consumer willingness to invest in dental and elective treatment, supported by the expansion of V12's healthcare provider network. Growth was also strong across several practical and lifestyle categories. Consumer electrical finance values more than doubled year on year, rising by around 126%. Cycles grew by around 24%, with double-digit growth in every month of the quarter. Motor finance rose by close to 6%. Signs of stabilisation in discretionary categories In Q1, discretionary luxury categories were under pressure. In Q3, there were early signs that this pressure is beginning to ease. Jewellery, the second largest sector by value, returned to growth, with finance values rising nearly 3% year on year. This marks a positive step after a softening trend that had been evident since mid-2024. Other discretionary categories remained more subdued. Art saw a decline of close to 8%, while music was broadly flat. This suggests that while sentiment around non-essential purchases may be improving, households are still exercising restraint in some areas. Retailer network continues to expand V12's retailer network continued to grow during the quarter. The most significant milestone was the launch of V12's partnership with Magnet, which went live across all 150 Magnet stores in July and made a strong early contribution to the growth in home improvement finance. The sector also benefited from continued growth among retailers introduced through broker partners. "What has been particularly encouraging this quarter is how broad the growth has been," added Andrew Phillips. "We have seen strength in our largest categories, in healthcare and in practical purchases, and early signs of recovery in jewellery. Combined with the momentum in home improvements and new partnerships such as Magnet, that gives us a solid platform as we move into the busiest trading period of the year."

An astonishing relic from the legendary Zeebrugge and Ostend raids in World War I has emerged – shining a light on a forgotten act of heroism. The effects were similar to that of the Dambusters mission in WWII because it boosted morale and galvanised the public, even if the success was debated. An astonishing 11 VCs were awarded following the Dover Patrol’s cross-channel raids in 1918 during which the British fleet entered heavily-defended enemy territory. There were three raids which aimed to block the shipping canals at Zeebrugge and Ostend by sinking ships in them. The relic that has been uncovered by leading antique dealer Charles Wallrock of Wick Antiques in Lymington, Hants, is a smoke-stained white ensign. And it will be flown again at the LAPADA antiques fair in Mayfair, London, from October 28 to November 1. The flag was attached to the stern of Motor Launch 397 which helped lay a smoke screen ahead of the main force. ML397 took part in the Zeebrugge raid and then shortly afterwards in the second Ostend raid. Subsequently the white ensign was framed and the names of her volunteers engraved on the decorative teak wood surrounding it, with seven names appearing twice because they served in both raids. Charles said: “This is a poignant relic and with the frame it is almost as tall as I am. It is an important part of our history. The raids organised by the Dover Patrol involved hundreds of volunteers who, on St George’s Day 1918, set out for Zeebrugge and Ostend on 160 ships." “ML397 headed for Zeebrugge and bravely laid a smokescreen so the British ships and submarines could approach the port without being seen, although a change in wind direction cleared much of the smoke." “The plan was to scuttle blockships in the main channel and for suicide-submarines loaded with explosives to blast a hole in the breakwater. One sub completed her mission in blowing a hole and three blockships were scuttled, though not necessarily in the right locations." “The simultaneous raid at Ostend was not as successful which was why another attempt was made shortly afterwards – and again ML397 was chosen to take part. After the previous raids the Germans were on high alert and the men’s bravery was astonishing." “The same two officers were in command of ML397 - Lieutenant John Gordon RNVR and Sub-Lieutenant William Scott - and four of the crew of seven who took part in the Zeebrugge raid served on her again. A blockship was scuttled but didn’t fully prevent German shipping getting out “Nevertheless, the raids were viewed at home as proof of our navy’s brilliance, the volunteers’ bravery and the excellence of the military’s tactics and leadership. The vessels that took part were opened to the public on their return and the operation was hailed as a great success. Books were written about it and films were made." “But it has largely slipped from the national consciousness, unlike the Dambusters, for example. “This flag, still stained from those missions, really belongs on public display in Dover and I will knock its price down if someone starts a crowdfunder to raise to money." “Hundreds of men were killed and injured in these raids and this artefact helps keep their memory alive.” David Harper, an antique expert from TV’s Bargain Hunt and Antiques Road trip has filmed the flag. He said: “This is a museum-quality item. It would be wonderful if it could be displayed in a museum or a public space in Dover. There is a Dover Patrol memorial in the town and this flag would remind people of the volunteers who took part in the raids and did their part in helping win the war.” The advertised price for the flag is £37,500 but a crowdfunder to secure it for Dover could buy it for £35,000. Liz Shanks, CEO, LAPADA, said: “This is exactly the kinds of object that make the LAPADA Fair so interesting. It has extraordinary historical associations, being carried during two daring First World War naval raids. We’re delighted that Wick Antiques will be bringing it to the Fair this year, giving visitors the opportunity to see these remarkable pieces of history in person.” Photo: Charles Wallrock with the white ensign from ML397

A family-owned business is taking on some of the world's biggest battery markets after transforming itself from a specialist distributor into an advanced manufacturer in just five years. Avocet Materials Group has built a 29-strong manufacturing and R&D operation in Holmes Chapel, Cheshire, developing specialist components for lithium-ion batteries which it says had previously only been manufactured in Asia. Its products are used within Formula One (F1) battery applications, as well as aerospace, defence, electric vehicles and energy storage applications. The business exports 99% of its battery products to markets including China, Japan and the US. Now, having grown turnover from £1.5m to £3.5m, including around 25% sales growth this year, the speed and scale of Avocet's transformation has prompted the company to take stock of the systems, technology and leadership needed for its next phase. It is working with Made Smarter North West, the government-backed programme helping SME manufacturers grow and innovate through digital technology and skills, to improve productivity, increase capacity and build the foundations for further expansion. Kieren Hall, CEO, said: “When you think that five years ago we didn't manufacture anything, what we've achieved is pretty remarkable. We've built a manufacturing operation from scratch, developed our own technology and we're now making specialist components for lithium-ion batteries in Cheshire for some of the most demanding applications in the world." “We're exporting 99% of our battery products and selling into countries with some of the biggest battery industries in the world, including China and Japan. For a business of our size to be competing internationally at that level is something we're incredibly proud of.” Founded in 1996 by Kieren's father, Graham, Avocet began life as a specialist metals distributor before moving into manufacturing during the Covid-19 pandemic. Backed by a £1.4m Innovate UK grant through the Advanced Propulsion Centre and further investment, it has since developed into a group spanning Avocet Precision Metals, its specialist metals distribution business; Avocet Battery Materials, its manufacturing arm; and Avocet Research Centre, its R&D operation. At the heart of the business are lead tabs, small but critical metal components which connect a lithium-ion battery cell to the outside circuit. They can influence weight, conductivity and reliability and must be manufactured to exacting standards for high-performance applications. Avocet's innovations include Flyweight, its bimetallic lead tab for pouch cells which is used within F1 battery applications to reduce the weight of the battery system. It is also developing DryTab, a next-generation surface technology which recently secured government backing through the DRIVE35 programme. But the pace and ambition of Avocet's expansion has created a new challenge, with its systems and processes struggling to keep up with its rapidly evolving manufacturing operation. Avocet turned to Made Smarter for support, securing a £13,000 grant towards a £75,000 ERP system. Going live in January 2027, the technology will integrate operations across the business, improve productivity and give Avocet the digital infrastructure it needs to scale. Made Smarter has also supported Kieren through its Leading Digital Transformation programme, helping him develop the strategy and leadership capability needed to drive the business forward. Kieren said: “We've grown incredibly quickly and there comes a point where you realise the systems and processes that got you this far aren't necessarily the ones that will take you to the next stage." “Working with Made Smarter has given us the opportunity to take stock and look at the business differently. We're putting the right digital infrastructure in place, but it's also helped me think much more strategically about how we lead the business, where we're going next and what we need to get there.” Avocet is already looking to its next manufacturing challenge, exploring automated inspection technology to increase production capacity, alongside opportunities to use AI to improve efficiency and decision-making across the business. Donna Edwards, Director of Made Smarter North West, said: “Avocet is a fantastic example of the ambition and innovation within UK manufacturing. In just five years it has built advanced manufacturing capability here in Cheshire, developed its own technology and is now competing successfully in global battery markets." “Rapid expansion on that scale brings challenges as well as opportunities. Made Smarter is there to give ambitious SME manufacturers access to the right technology, skills and leadership support at the right time, helping them turn that potential into sustainable growth. It is incredibly exciting to see what Kieren and the team have achieved and to support them as they prepare for what comes next.” Visit here for more information on MadesmarterUK

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