How the British High Street has changed face forever
ow the British High Street has changed face forever
Results from our study into independent retailers across the UK
Today, we’ve launched a study into independent retailers across the UK. We looked at data of over 75,000 retail owners over the past three years to see how British High Streets have changed.
Perhaps not surprisingly we found that a third of independent High Street shops are now cafés, pubs, restaurants and takeaways. And as you may have seen in an article about our study in The Guardian today hairdressers and beauty salons are thriving, with the former now the most common type of establishment on the High Street. Unfortunately, while the business climate has been favourable to some retail businesses, not all independent retailers are doing so well and clothes shops and newsagents seem to be suffering from the on-going dominance from High Street brands.
I guess it’s unsurprising that London remains the foodie capital, with restaurants now making up 11 per cent of the capital’s High Street businesses. While in the South West, Wales and the North East coffee shops are most dominant.
Working with independent retailers and businesses every day we get to see for ourselves how British businesses are struggling to compete with larger corporations. While the Government claims to be focused on increasing the number and diversity of independent retailers in Britain’s towns, it’s crucial that start-ups don’t fall at the first hurdle and have every opportunity to compete with the big boys.