Member Article

Death of the high street could be exaggerated

2011 was a year of growth for independent retailers, while multiples in town centres experienced decline.

The latest report from the Local Data Company reveals that multiples shrank by -0.25% and independents grew by +2.4%.

A survey of the top 500 town centres showed independents opened three times more stores than chain stores, meaning independents now account for 66% of all retail and leisure units in Great Britain.

The strongest performing sectors were within convenience and service retail, as off licences in particular showed massive increases of nearly 12%, while multiples shrunk by 28%, mainly due to the closure of Oddbins.

In the service sector, independent hairdressing and health and beauty showed strong performance; nail bars, 95% of which are independents, have gown by 16.5%.

Regionally, multiples suffered worst across Scotland and the North East, as independents increased most significantly in the East of England by 8%.

Leisure sector units presented a mixed picture as positive growth of independents occurred in the West Midlands, while multiples ranged from +2.3% in Yorkshire and Humber to -4.3% in Scotland.

Michael Weedon, Deputy Chief Executive of the British Independent Retailers Association, said: “Reports of the death of the High Street have been greatly exaggerated.

“Independents have been opening shops in increasing numbers while multiples have been shutting up or moving out.

“We have been telling the government this throughout the Portas Review and this report from LDC makes the real numbers in the debate crystal clear; there was a net gain of over 2,500 independent shops in Britain last year, that is about ten small towns’ worth of new shops in just a year.

“If the government and local councils want to save their town centres and to create growth then they have to ensure that the environment is right to keep these businesses in business.

“Put Parking, Property (Business Rates and Rents) and Planning (Town Centre First) right and as these figures demonstrate, independent shops will do the rest.”

Matthew Hopkinson, director at the Local Data Company added: “This report shows how significant independents are to the future of our High Streets particularly now as chain stores reduce their numbers.

“It also challenges the common view that independents are an endangered species being killed off by supermarkets and the internet.

“In many towns they are the mainstay and are at the forefront of the move for communities to keep spend local in their economy by supporting the local independent businesses.

“Given the right conditions, support and opportunity independents have the greatest potential to reinvigorate many of our failing high streets.

“The choice lies with us as shoppers to physically visit and spend our money in these outlets and the independents who own them to work harder than ever before to deliver the personal service and unique offer that the internet and large multiples struggle to achieve.”

This was posted in Bdaily's Members' News section by Tom Keighley .