One in Five Stores at Risk of Closing Post-Christmas

  • One in five small retailers may close after a below-average Christmas
  • 22% of SMEs might shut down within a year due to poor festive sales
  • UK retail industry heavily reliant on Christmas period
  • 85% of surveyed people support local businesses
  • 11% didn’t shop at smaller businesses in 2020

A recent survey by Notonthehighstreet reveals that over one in five small retailers may close their stores within a year if the Christmas season falls short of expectations. The research highlights the importance of the festive period for UK retail, with many large chains relying on sales during this time. With 85% of surveyed individuals expressing support for local businesses and 11% not shopping at smaller establishments in 2020, the CEO of Notonthehighstreet warns that a subpar Christmas could jeopardize their long-term viability.

Factuality Level: 8
Factuality Justification: The article provides relevant information about the survey results and quotes from the CEO of Notonthehighstreet. It does not contain digressions or irrelevant details, and it is not misleading or sensationalist. However, it could be improved by providing more context on the survey methodology and including statistics to support the claim that Christmas period is vital for the UK retail industry.
Noise Level: 4
Noise Justification: The article provides relevant information about the challenges faced by small retailers during the Christmas period and highlights the importance of this time for the industry. However, it could benefit from more in-depth analysis or exploration of potential solutions to support these businesses.
Financial Relevance: Yes
Financial Markets Impacted: UK retail industry, small and medium-sized retailers
Financial Rating Justification: The article discusses the financial challenges faced by small and medium-sized retailers in the UK and how a below-average Christmas sales period could impact their viability, which is relevant to the financial stability of these businesses and the overall retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no mention of an extreme event in the last 48 hours.

Reported publicly: www.retailsector.co.uk