Western Morning News (Saturday)
High Street losing 14 shops every single day
Alarming statistics of retail crisis driving push to ‘reinvent’ city centres
High street shops closed at a rate of around 14 a day in the first half of the year, while openings were down a third, a new report suggests.
Retailers are battling the worst trading conditions for five years, with the growth of internet shopping and busi- ness rates blamed for the challenging climate.
But across the Westcountry, towns and cities are seeking to reinvent the high street by focusing on leisure, entertainment and socialising where mere shopping has failed.
A study of 500 high streets found 2,692 stores nationally had vanished in the first six month of the year – roughly 14 a day. The issue has been compounded by a dramatic fall in the number of openings, from 2,342 in the first six months of last year, to 1,569 this year.
Tim Jones, chairman of the South West Business Council, said the government needed to tackle the issue of business rates, which fall more heavily on high street traders than on the distribution centres of firms such as Amazon. But Mr Jones said local authorities would also have to bite the bullet and reform car parking charges – one of the main earners for councils.
High street shops closed at a rate of around 14 a day in the first half of the year, while openings were down a third, a new report suggests.
Retailers are battling the worst trading conditions for five years, with the growth of internet shopping and business rates blamed for the challenging climate.
But across the Westcountry, towns and cities are seeking to reinvent the high street by focusing on leisure, entertainment and socialising where mere shopping has failed.
A study of 500 high streets by accountants PricewaterhouseCoopers and the Local Data Company found 2,692 stores nationally had vanished in the first six month of the year – roughly 14 a day.
The rate is similar to the same period in 2017, although there has been a dramatic fall in the number of openings, from 2,342 new shops in the first six months of last year, to 1,569 this year.
Tim Jones, chairman of the South West Business Council, said: “The impact is predominantly with national retail outlets rather than more local or regional operations.
“In some in instances we are finding that the gaps left by the nationals are being filled by local traders. As the cost of retail rents reduces, it is opening up some interesting opportunities for local traders.”
He said the government needed to tackle the issue of business rates, which fall more heavily on high street traders than they do on the out-of-town distribution centres of companies such as Amazon.
But Mr Jones said local authorities would also have to bite the bullet and reform car parking charges – one of the main earners for many councils.
Steve Hughes, chief executive of Plymouth City Centre Company, the city’s business improvement district, said new leisure and residential developments would help to combat the decline.
£150 million of new investment includes the Drake’s Leisure complex, with an Imax cinema and restaurants, and The Box, Plymouth’s new culture hub, which is expected to attract 300,000 visitors a year when it opens in 2020.
Meanwhile, the old Derry’s Cross site is undergoing a £50 million redevelopment, and Urban Splash has announced plans to redevelop the Civic Centre in Plymouth as homes, bringing more people to live in the city.
“City and town centres are changing and need to diversify, but we are lucky that we have a forward-thinking coun- cil,” Mr Hughes said. He added that although online shopping was a threat to the high street, it still represented only about 17% of sales.
Ann Hunter, manager of InExeter, the city’s business improvement district, said: “We are seeing many more of our
‘City and town centres are changing and need to diversify’
Steve Hughes, Plymouth City Centre
retailers developing the service aspect of their businesses, by offering appointments with stylists and specialists to help find the perfect item.
“InExeter is doing the same for the city centre by producing and supporting lots of events and experiences, draw- ing people into the city and giving them a special experience.
“We have our first full day Christmas light switch on event coming up soon on the November 18 and a series of other events and entertainment leading up to Christmas.
“We are lucky to be part of a growing city with a strong economy.
“Retailers and restaurateurs continue to invest in the city and we are seeing new business openings all the time, with very limited vacant units.”
An Exeter City Council spokesman said: “Unlike other cities which are struggling, Exeter remains a strong retail destination. Footfall in the city continues to be strong and that is reflected in the City Centre being ranked in the UK’s top 1% of all UK retail centres.”