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Sunday 25 August 2019

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Retail takes up 30 per cent of UK High Streets

Written by Hannah McGrath
02/07/2019

Retail brands are abandoning the High Street in favour of an online presence, according to a new analysis.

Specialist lender Together Money analysed a sample of 6,682 businesses across 120 high streets from all 12 regions of England, as well as Wales, Scotland and Northern Ireland.

It found that retail now takes up just 30 per cent of the High Street in terms of presence, with retailer B&M ranked ‘most wanted’.

On the UK High Street as a whole, cafes and other food and drink business made up the next highest proportion, coming in at nine per cent and eight per cent respectively. Charity shops accounted for eight per cent, followed by banks (six per cent), hair and beauty (six per cent), grocery (five per cent), fast food (five per cent)and health (four per cent).

On the other side of the scale, service companies (e.g dry cleaners) make up a much smaller proportion of our high streets at just 0.25 per cent, followed closely by automotive services and recreational establishments like gyms, both of which also came in at less than 1 per cent.

The data showed that Yorkshire has the most ‘desirable’ high street with the highest percentage of retailers at 42 per cent, compared to the West Midlands, which ranked 19 per cent for desirability.

However, the shift away from the traditional High Street model of chain stores has driven the emergence of a new generation of independent shops, with 43 per cent of the High Street now featuring an independent business.

Together suggested that local independent shops are of high importance to British homeowners – in fact, more than one in three Brits would like to see a return to smaller, local shops in their town.

Overall, Northern Ireland came out the best place for independent stores, with more than one in two businesses on the high street (52 per cent) being independently owned.

On the other side of the scale, service companies (e.g dry cleaners) make up a much smaller proportion of our high streets at just 0.25 per cent, followed closely by automotive services and recreational establishments like gyms, both of which also came in at less than 1 per cent.



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