New Research finds Independent Businesses optimistic about the future of their local high street

26/06/2018

According to new research commissioned to launch the Government-run Great British High Street Awards 2018, more than half (51.7%) of independent high street retailers in the East Midlands are optimistic about the future of their local high street – and more than three quarters (76.4%) of shoppers would miss their high street if it was no longer there.

The research reveals that despite recent negative economic forecasts and high-profile retail chain closures:

  • Almost four in ten (37.9%) independent retailers in the East Midlands describe themselves as ‘optimistic’ about the future of their local high street and more than one in ten (13.8%) are ‘very optimistic’ about the future of their local high street;
  • More than half (58.6%) say they predict more bars, restaurants and coffee shops appearing on their high street over the next five years.

The findings also show more than two thirds (68.9%) of retailers in the East Midlands say being part of a local community and building relationships with customers are what they enjoy most about running their business, with more than a third (34.5%) saying their high street is ‘improving’ or ‘vastly improving.’

When asked what would encourage consumers to visit their high street more, over half (52.9%) said more shops, four in ten (39.3%) said a better variety of shops and services and a similar number (38.6%) said better parking or public transport facilities.

When asked what would encourage consumers to visit their high street more and over half (52.9%) said more shops, four in ten (39.3%) said a better variety of shops and services and a similar number (38.6%) said better parking or public transport facilities.

The Cathedral Quarter is still reigning champion for the ‘Best City Location’ at the last Great British High Street Awards which took place in 2016 which celebrates Derby as one of the best places for shopping in the UK.

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