Partner Article
UK high streets must adapt to recession
Struggling UK high streets must develop “unique identities” if they are to survive the recession, a report has warned.
Some shopping districts have been so badly affected by the collapse in consumer confidence and the effects of economic decline they are already recording empty property rates of 40%, according to the British Retail Consortium (BRC).
In its plan to turn around the fortunes of ailing town centres, the organisation said a focus on local character as well as creating attractive and safe environments should be key to enticing shoppers into the vicinity.
“It is clear that in many places, recession is accelerating a trend of decline that was already under way,” the BRC said.
The BRC said local and national Government should work with retailers to avoid a cycle of decline sparked as consumers are increasingly deterred from visiting high streets where the number of empty shops is growing.
Other recommendations include better transport links, with parking funds used to improve facilities and traffic systems used to encourage greater footfall in town centres.
BRC director general Stephen Robertson said: “Some will flourish again as the economy recovers; others have to shape a different future as customers’ needs change.
“But that cannot be left to chance.”
This was posted in Bdaily's Members' News section by Ruth Mitchell .
Enjoy the read? Get Bdaily delivered.
Sign up to receive our popular morning National email for free.
Navigating the property investment market
Have stock markets peaked? Tune out the noise
Will the Employment Rights Bill cost too much?
A game-changing move for digital-first innovators
Confidence the missing ingredient for growth
Global event supercharges North East screen sector
Is construction critical to Government growth plan?
Manufacturing needs context, not more software
Harnessing AI and delivering social value
Unlocking the North East’s collective potential
How specialist support can help your scale-up journey
The changing shape of the rental landscape