Associated with digital take-up, from 2013 to 2017 the Local Data Company data shows that 18% of towns lost 10% or more of their chain retailers. One in four towns saw a rise in chain stores in this period and 4% of these towns saw a growth of 10% or more. The overall trend shows that chain retailers are exiting town centres at their fastest rate, which is due to their rates and rental costs, moving across to digital platforms, store rationalization and leaner business models.
The last five years has seen the decline of traditional shops selling comparison goods, products that can often more conveniently be bought online such as bulky white goods, electronics, books and increasingly, fashion and footwear.
The 2020 Grimsey Review noted that “the number of and type of shops being occupied in our towns has continued to change and at a greater velocity. The traditional anchors of many town centres such as banks, clothing shops and pubs have been closing hundreds of outlets and in the case of banks nearly 2,500. Where these shops have been taken over, they are being filled by health and beauty businesses – nail salons, tattoo parlours and barbers – all offering experiences rather than just products.”
The profile of shopping local has been amplified through the pandemic with 5-mile rules and staying local pointing shoppers into their local town. Research by Shopify in March 2021 found out that shopping local is top of peoples’ minds, with 51% of consumers expected to shop locally more often post-pandemic than they did before. For half of the shoppers surveyed, “shopping local” means proximity – the shop is either within their area or within walking distance. One-third consider “shopping local” when they buy from a small or an independent shop. These are key changes in behaviour away from shopping centres that independent business owners need to retain and turn into loyal customers in the future.