Indie retail sector growing as more chains face closures
Posted on in Business News , Cycles News , Creative News, Outdoor News
As multiple stores like New Look, Maplin and Toys ‘R' Us close, a study by OnBuy.com has found that this has led to a rapid increase in the number of independent retailers.
The study has found that independent store openings have grown in all but two regions of the UK as chains continue to face a general decline.
The North West, West Midlands and Scotland had the highest rate of independent store openings in UK in 2017 - with 230, 194 and 114 independent openings respectively. The only regions to have not experienced growth in independent store openings were the East and South West, which recorded 19 and 29 closures respectively.
In comparison, according to the study multiple stores (with more than five stores nationally) saw closures in every region, except Yorkshire.
The study found that barbers, beauty salons, cafes and tearooms, convenience stores and tobacconists/vaping shops are succeeding in the current climate, whilst pubs, women's clothing, newsagents, bookmakers and shoe shops are suffering.
https://www.onbuy.com/gb/