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Business rate reform called for as industry reacts to landslide Labour election win

9 Jul 2024

Following Labour’s general election win, the retail industry has stressed the need for a business rates overhaul to protect high streets across the country.
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Bira calls on new Labour government to prioritise independent retail sector

9 Jul 2024

Following Labour’s landslide Election victory, Bira, the British Independent Retailers Association, has urged the new government to make good on its promise of change by prioritising the... Read more…

Much loved toyshop saved by owner's daughter

9 Jul 2024

A much-loved toy shop in Aberystwyth that was facing closure has been saved after the former shopkeeper's daughter decided to take over the reins.
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Inverness-based retailer wins coveted Drapers Award for Best Independent Footwear Retailer

9 Jul 2024

A family-owner retailer in Inverness, Begg Shoes, has been named Best Independent Footwear Retailer at the 2024 Drapers Footwear Awards, held annually to celebrate the outstanding achievements... Read more…

'Pay-as-you-feel' barber wins hairdressing award

9 Jul 2024

A man who offers "pay-as-you-feel" haircuts has been named the UK's best barber.
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The Times publishes its list of the seven best shopping streets in the UK

24 Jun 2024

The Times has just published its list of the seven best shopping streets in the UK.
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Indie retail village wins Hospitality Hero Velvet Award for 2024

24 Jun 2024

An independent retail village in Ely that celebrates its one-year anniversary this month has won the Hospitality Hero Velvet Award for 2024.
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Bike shop owner slams police’s “abject apathy” after three shops broken into in one night

24 Jun 2024

A cycle shop owner has criticised the police’s “abject apathy” towards bike theft after thieves attempted to break into his store for the second time in a year, on the same... Read more…

A simple comparison of the General Election manifestos

24 Jun 2024

With less than three weeks to go until the General Election, Bira has produced a simple table comparing manifestos for Labour, Conservatives, Liberal Democrats, Green Party and Reform UK, and... Read more…

Independents Day message - supporting independent shops boosts local jobs and economies.

24 Jun 2024

With the annual Independents’ Day weekend coming up on July 6th and 7th, independent retailers have been reinforcing the message that supporting independent shops boosts... Read more…

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High Street Faces 'Unprecedented Challenges' says Trade Association

Posted on in Business News

The British Independent Retailers’ Association (Bira) has reacted to data released by PwC and the Local Data Company exploring the state of the UK retail landscape.

High street

The high street faced 'unprecedented challenges' following the news of a decrease in stores across the country in 2023. Despite the rise in new outlets opened by UK chains, the closure of stores continues to outpace openings, resulting in a net decrease of 5,000 stores.

Andrew Goodacre, CEO of Bira, expressed concern over the challenges facing independent retailers:

"Further evidence of how difficult it is for retailers on the high streets in the UK. Our own recent survey also showed more than 50% of indies were concerned about 2024. We disagree that store closure was a result of a long-term trend of people moving online because since Covid restrictions were lifted in 2021, online sales have fallen. We believe store closures have occurred due to the cost-of-living crisis reducing consumer spending and the ever-increasing costs of running a shop, with many indies saying enough is enough."

The figures reveal a concerning trend with a daily closure rate of 14 stores, underscoring the challenges faced by both retail and service industries amidst the growing preference for online shopping. Despite 9,138 new openings last year, primarily driven by hospitality sites such as drive through coffee shops and fast-food restaurants on out of city centre areas, the closure of major chains such as Wilko, Lloyds Pharmacy, and Paperchase has contributed to a net decrease in retail presence across the UK.

PwC's analysis highlights the impact of "one-off" restructurings and failures at major retailers, further exacerbating the closure rate. However, out-of-town retail parks have shown resilience, buoyed by the emergence of new food outlets, while the expansion of electric vehicle charging stations has led to a net gain of 48 petrol stations.

The rise in new hospitality sites represents a rebound for the sector following the challenges posed by the pandemic. Despite this, the broader retail landscape continues to face unprecedented challenges, with independent retailers bearing the brunt of economic pressures.

Mr Goodacre added that Bira remains committed to supporting independent retailers across the UK, advocating for policies that address the underlying issues impacting the retail sector.

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