A Shift in the UK Retail Landscape

  • Independent retailers and leisure outlets are experiencing growth despite chain store closures
  • OnBuy.com study reveals regions with highest multiple store closures
  • West Midlands, Greater London, and East of England have seen the most multiple store closures
  • North West, West Midlands, and Scotland see significant independent growth
  • Barbers, beauty salons, cafes, convenience stores, and tobacconists/vaping shops are thriving
  • Pubs, women’s clothing, newsagents, bookmakers, and shoe shops face closures
  • Cas Paton, managing director of OnBuy.com, urges support for local independents to save retail industry

A study by OnBuy.com has found that independent retailers are experiencing growth despite multiple store closures, with regions such as West Midlands, Greater London, and East of England seeing the most chain store closures. The North West, West Midlands, and Scotland have witnessed remarkable growth in their independent markets. Barbers, beauty salons, cafes, convenience stores, and tobacconists/vaping shops are succeeding, while pubs, women’s clothing, newsagents, bookmakers, and shoe shops face closures. Cas Paton, managing director of OnBuy.com, emphasizes the importance of supporting local independents to save the retail industry.

Factuality Level: 8
Factuality Justification: The article provides a clear and concise summary of a study conducted by OnBuy.com on the growth of independent retailers in comparison to chain store closures. It presents data on the number of closures and openings in different regions and mentions specific types of stores that are succeeding or struggling. The quotes from Cas Paton, managing director of Onbuy.com, provide a relevant perspective on the situation.
Noise Level: 4
Noise Justification: The article provides some relevant information about the growth of independent retailers in contrast to chain store closures but also includes some irrelevant and repetitive statements such as ‘In the grand scheme of things, vacancy rates are low’ and ‘we must support our local independents, bricks-and-mortar businesses. It’s the only way for retail to survive.’ These statements do not add much value to the overall understanding of the topic.
Financial Relevance: Yes
Financial Markets Impacted: Independent retailers and chain stores
Financial Rating Justification: The article discusses the closure of multiple stores like New Look, Maplin, and Toys ‘R’ Us, which are companies, and the growth of independent retailers in certain regions. This impacts financial markets as it affects the performance of these companies and their stocks, and also has an impact on local economies where these stores are located.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk