There’s no reason panic about the state of the UK high street as it’s not dying just undergoing a transformation, new research claims.
2024 was a tough year for the high street, as total UK footfall fell by 2.2% on 2023, according to the British Retail Consortium ’s (BRC) Sensormatic Footfall Monitor. December was a particularly tough month when visits dropped by 2.5% compared with the previous year.
BRC chief executive Helen Dickinson said: “A drab December which saw fewer shoppers in all locations capped a disappointing year for UK retail footfall.”
However,experts are predicting an exciting year ahead for physical retail as big transformations are coming, SumUp reports.
(Image: In Pictures via Getty Images)
Ambitious projects, such as the proposed £150 million pedestrianisation of Oxford Street, show a renewed investment in shopping districts.
Experts predict that branded coffee shops will surpass 10,500 sites in the UK this year, showing that shoppers still crave physical locations.
According to ONS data, the West Midlands region leads the UK with the highest percentage increase in retail businesses in the past five years.
Chatham, Kent has an 83% increase in the openings of hairdressing and beauty businesses in the past five years, the highest percentage increase in the UK.
Harlow has seen the highest percentage growth in takeaway food shops, mobile food stands in the past five years.
Telecommunication equipment stores, games and toy stores and clothing markets are the fastest growing industries on the high street.
(Image: Getty Images/Westend61)
And the fastest growing industries on high street?
- Telecommunications equipment stores
- Games and toy stores
- Clothing markets and stalls
- Bakeries
- Non-specialised stores
But it isn’t all good news as there are still a lot of retailers struggling.
The Booksellers Association represents over 95% of bookshops in the UK and Ireland.
Meryl Halls, Managing Director of The Booksellers Association, said: “While anecdotally the Christmas gifting period started slowly but ended positively for many of our bookseller members, the continued footfall decline on our high streets is a potential harbinger of harsher winds to come for British bookshops.
“Therefore, the Booksellers Association (BA) strongly supports the British Retail Consortiums’ (BRC) urging of the Government to ensure that their proposed reforms our implemented in a way that eases the burden for all who need it on the high street and with assurances that no vulnerable bookshops will be placed in jeopardy.”
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