British high streets’ study shows how town centres have risen to the challenge of online shopping and out-of-town retailers.
UK Gov writes:
Researchers at the University of Southampton reveal how ‘fundamental’ changes to Britain’s ‘convenience culture’ are transforming the way we shop and bringing new business into town.
New High Streets Minister Penny Mordaunt today (29 July 2014) welcomed the study’s findings as proof the country’s most dynamic and flexible town centres were experiencing a retail resurgence despite the competitive pressures of internet shopping and out-of-town stores….
In one of the most definitive studies into consumer habits ever conducted in Britain, the University of Southampton Retail Research Group discovered there has been a ‘fundamental shift’ in what consumers mean by ‘convenience’ shopping….
“Convenience retail in town centres/high streets, both independently and corporately owned, has experienced significant growth over the past 15 years, a growth sustained during the economic crisis and subsequent period of austerity,” the report finds.
That trend is expected to continue over the next 5 years, with convenience stores accounting for a quarter of the entire grocery market by 2019. Over the same period the market share for superstores is expected to fall from 42% to 34.9%.
The study also concludes there has been a ‘modest resurgence’ in specialist retailers such as ‘artisanal bakers, butchers and tea and coffee merchants’ on high streets were independent stores stand alongside big high street names.
