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Concerns expressed by retail leaders following Chancellor’s Autumn Statement

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Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.
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Winners of Booker Prize Indie Bookshop Spotlight competition named.

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Six independent bookshops from around the UK have been named as the winners of the inaugural Booker Prize Indie Bookshop Spotlight, a competition in which independent bookshops and booksellers... Read more…

New Conservative Party chairman writes responds to NFSP DVLA petition.

21 Nov 2023

The National Federation of Subpostmasters has received a response from new Conservative party chairman Richard Holden MP regarding the petition to keep DVLA services in post offices.
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The British Business Bank has launched a new guide aimed at smaller businesses to help them understand how different financial products can support them at all stages of their development.
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Indie Shops to Boycott Black Friday

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Independent retailers across the UK are set to defy the Black Friday sales frenzy for the third year running, according to a survey conducted by Bira, the British Independent Retailers... Read more…

Indie shops key to reversing fortunes of struggling high streets, new study shows.

20 Nov 2023

A focus on independent stores and ‘browse-only’ shops can help to reverse the fortunes of the struggling high street, new research shows.
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Bira sets out expectations for this month’s Budget.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government... Read more…

Mixed picture on consumer spending plans for Christmas

7 Nov 2023

New survey data from Deloitte has shown a seven percentage-point rise in the number of UK consumers - from 19% in 2022 to 26% in 2023 - who intend to spend more in the last three months of 2023,... Read more…

Grants of up to £100,000 made available to boost Cornish High Streets

7 Nov 2023

Communities across Cornwall can now apply for grants of up to £100,000 to improve High Streets, the council has said.
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Warwickshire County Council launches campaign to promote Christmas shopping at independent businesses

6 Nov 2023

A Christmas campaign encouraging Warwickshire’s independent town businesses to shout about why shoppers should buy from them this year is making a comeback.
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New research shows local high streets & shopping centres more resilient than major shopping hubs in cost-of-living crisis

Posted on in Business News

bakeryNew data from commercial property specialist Colliers shows that in the face of the UK’s cost of living crisis, minor retail destinations such as local high streets and shopping centres will be more resilient than major shopping hubs in larger cities.

The company’s LocateVenues analysis looks at retail destinations across the country, excluding central London and divides them into five categories; minor city; super-regional; mid-regional; sub-regional; and major city.

Looking at the results on a region-by-region basis, the South-west came out on top as the most resilient followed by the East of England and the South-east in third place.

Examples of ‘minor cities’ include Bath, Chester and Reading which have a smaller catchment population and have a drive time of 45 minutes around the centre of their retail offering.

The research used four metrics to understand which destinations would come out on top and looked at; the percentage of chain stores which are often better financed then independent brands, the percentage of retailers viewed as a necessity, average household disposable income and the unemployment rate.

Paddy Gamble in the Colliers retail strategy & analytics team, comments: “As the cost-of-living crisis continues to bite, retail is inevitably being impacted by lower disposable incomes, alongside the sector’s existing issues ranging from too much space, rising energy costs and staffing issues.

“These minor cities benefit from fairly affluent catchment areas, often being commutable, and with strong transport links. The local population will be fairly insulated from the rising costs of living, and in turn this insulates their local retail provision to some extent.

“As with our previous research, the least resilient retail destinations are the major cities such as Birmingham and Manchester which are often over supplied with retail and are ‘once a month’ visits rather than little and often.”

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