This ad will be closed automatically in X seconds.

Closing Doors, Closing Stores

As Marks & Spencer’s reveals that it will close 100 stores by 2022, data released by The Local Data Company (LDC) and British Independent Retailers Association (bira) shows that there has been a decrease in the number of traditional independent shops compared to the same period last year, along with a fall in the number of national chains. The independent sector saw a decrease of -1,483 shops (-0.49%) in 2017.

This is a significant change from the net increase of +795 shops (+0.28%) in 2016. A net growth of +44 units in retail parks meant that this was the only location type to see an increase in the number of independent shops in 2017.

Homewares is listed among the non-perishable comparison goods category which saw a decline of -2.62% in 2017(-1.50% in 2016). Reflecting the changing nature of high streets, key growth sectors were highlighted as barbers, beauty salons, tobacconists/e-cigarette shops and cafes.

The West Midlands showed the greatest increase of independents in 2017, while Yorkshire and the Humber and Greater London showed the greatest decline of independents.

“The figures come as no surprise, and the net loss of 1483 independents reflects the more attention-grabbing headlines covering multiples that have dominated the news for the last few months,” commented bira’s ceo Alan Hawkins.

“Continued concern following the last rates review, uncertainty over Brexit, changing shopping habits, a harsh winter and real incomes falling can all be used to explain these figures. With this sector being faced with a false cost base against their online competitors, we shouldn’t be surprised at these inevitable consequences. With 65% of all outlets being independents, is society really braced for the hole a decline in numbers will bring? A growth of 44 independents in retail parks – while welcome and high in percentage terms – does not redress the balance.”

 

Top: Independent shops on the high street, to include gift shops, are continuing to close.

MORE NEWS
Chancellor.
 
A letter, organised by the British Retail Consortium (BRC) this week, highlighted closures, job losses and price increases...
Pure_SF
 
The Pure brand will sit alongside Moda to create Moda x Pure, with the move aiming to strengthen Spring Fair's position as a destination for the fashion sector...
Retail
 
The legislation comes into force on 2 December, with the Association urging independents to engage with their local authorities...
SourceNewsletter
 
The newsletter will deliver the latest insights, trends and innovations from the world of sourcing, sustainability and retail straight to inboxes....
Temple of Incense
 
“Lighting incense comes with added ritualistic appeal for meditation, yoga, or just simply ‘chilling out’”...
Brocante-Gracie
 
To date, Brocante has raised over £4,000 for 18 year old Gracie Mae who has a brain tumour, with co-owners Kieron Cockley and David Lorimer also setting up a Go Fund Me page...
Get the latest news sent to your inbox
Subscribe to our daily newsletter

The list doesn't exist! Make sure you have imported the list on the 'Manage List Forms' page.