Independent retailers return to the high street

The UK’s high streets suffered greatly during the recession, and have since struggled to recover thanks to competition from online retailers and out-of-town shopping centres. However, independent retailers are now increasingly filling vacant premises, according to new figures.

31st March 2014

Independent retailers back on the high streetThe British Independent Retailers Association and the Local Data Company recently released data that shows that independent retailers now make up two thirds of all retail units in the UK. Wales saw the biggest increase in independent stores in 2013, with a 7% increase on the previous year. Although this comes from a reasonably low starting point, the increase is still encouraging. As chain stores begin to reduce their high street presence, independent retailers are filling the empty premises.

It appears that UK consumers are beginning to want something different from a day’s shopping. Instead of sticking to the brands that they know, consumers increasingly want to branch out and receive a fresh, personal shopping experience. However, the churn rate is still extremely high – 31,000 independent stores opened and closed in 2013. The vacancy rate has fallen, but remains high, at an average of 13.6%.

The barriers to entry in the retail market have also fallen over the past few years, with the internet and social media allowing smaller retailers a large, effective marketing platform. Furthermore, retail and point-of-sale software were once only accessible by the larger retailers, but now packages have been specifically designed for smaller retailers to take advantage of.

Integrity Trader point of sale software is designed and built for businesses like yours, with additional modules tailored to meet your specific needs. Speak to us now to learn more.
 

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