Matthew Hopkinson of The Local Data Company was a more than interesting keynote speaker at the launch function for Footfall 123 by Codilink last week. He provided useful stats on how UK high street retailers survived / progressed in the first quarter of 2011. …
• Cafes, Snack shops & Tea Rooms were the hardest hit with 3.9 % of total vacancy closures.
• The supermarkets are the main expansion players, but others such as EAT, Phones 4u, as well as new entrant Boux Avenue, are all planning positive expansion.
• In the first quarter of 2011 there were more casualties in Oddbins (128 stores), Bennetts (14 stores) and Easy Living (20 stores), to name but a few
• High Street names such as O2, HMV, Waterstone’s and Thorntons are all reducing their number of stores, along with the JJB Sports CVA where 45 stores will close.
He also made the point that shops are continuing to be vacated, albeit at a slower rate than two years ago.
He said “The withdrawal of multiple retailers from certain centres, and the failure of independent retailers to succeed in the face of a changing consumer, is happening right across the country. Localism is the key watchword as performance differs widely from centre to centre, county to county and region to region, in any way you care to look at it”.
The question is how can the independent retailer succeed in reaching this changing consumer?
