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Commerce Models Payment Practices Report 2023

•By PaymentCheck•Reports

UK Commerce Models Payment Performance Beats National Average, But Deep Divides Remain

The Numbers

  • Companies analyzed: 216
  • Average PaymentCheck Score: 62.8/100
  • UK average: 50.0/100
  • East of England average: 72.9 (12 companies)
  • Northern Ireland average: 68.5 (2 companies)
  • London average: 66.1 (65 companies)
  • Yorkshire and The Humber average: 65.1 (17 companies)
  • South West average: 64.3 (8 companies)

What Stands Out

While the UK Commerce Models sector comfortably outperforms the national average for payment performance, a yawning gap exists between the best and worst payers, suggesting inconsistent payment cultures even within the same industry. Jimmy Choo Group's rock-bottom score of 0/100 pulls down the overall average, highlighting that size and brand recognition don't guarantee prompt payment.

Best Payers

  1. SLATER MENSWEAR - 98.46/100
  2. HUGHES ELECTRICAL LIMITED - 97.9/100
  3. JO MALONE LIMITED - 97.6/100
  4. SYNETIQ LIMITED - 97.4/100
  5. CHRISTIE MANSON & WOODS LIMITED - 97.1/100

Worst Payers

  1. JIMMY CHOO GROUP LIMITED - 0/100
  2. MCCORMICK (UK) LIMITED - 25.76/100
  3. ABB LIMITED - 26.7/100
  4. GREENCORE FOOD TO GO LIMITED - 27.03/100
  5. TELEFONICA UK LIMITED - 27.3/100

Regional Patterns

The East of England leads the way with an average PaymentCheck Score of 72.9, significantly higher than London's 66.1, implying that geographic location may play a role in payment practices, although the small sample size of 12 in the East of England needs to be considered. Northern Ireland's average of 68.5 across just two companies isn't enough to draw any meaningful conclusions.

If you're dealing with late payments, use this late payment calculator to assess your options.

Despite an overall average of 62.8, Jimmy Choo Group's score of 0 and McCormick (UK) Limited's 25.76 means that suppliers dealing with the bottom payers in the Commerce Models sector are experiencing payment times twice as slow as suppliers dealing with top payers like Slater Menswear's 98.46.