64 A new report by Spring & Autumn Fair and Faire, offers independent retailers a clear, data-backed blueprint for growth, revealing that success on today’s high street is being driven not by price, but by brand storytelling, in-store experience and community connection. At a time when many high streets remain under pressure from rising costs and shifting consumer behaviour, the Voices of Retail report shows that while 71 percent of independents are stable or growing, those investing in brand, experience and customer connection, are significantly outperforming their peers. With 96 percent of consumers calling for more independent shops, and willing to spend up to £145 more per month on their local high street if the offer improves, the opportunity for retailers to drive future success has never been clearer. The report reveals a clear divide in approach, between retailers adapting to changing conditions and those struggling to keep pace. Independents investing in brand storytelling are 19 percentage points more likely to report growth, while those enhancing their in-store experience and sourcing locally see a further 13-point uplift compared to those in decline. In contrast, retailers competing on price are significantly more likely to be under pressure, with 45 percent of struggling businesses having pivoted towards lower-cost products, despite growing consumer demand for experience, quality and connection. Together, the findings point to a clear shift away from price-led competition and towards experience, differentiation and customer connection. While many retailers are stable or growing, the report highlights a clear opportunity for more to fully capture this demand. As Katie Hughes, Marketing and eCommerce Executive at Wongs Jewellers explains, “Our campaigns are built around storytelling, creating memorable moments that drive both awareness and sales.” The report also highlights significant regional variation, with areas such as Greater Manchester and West Yorkshire outperforming the national average, while others such as Essex face continued pressure, suggesting that local ecosystems, where retailer collaboration, events, place-making and local support come together, may be playing a role in driving growth. This shift is strongly reinforced by consumer behaviour. More than four in five shoppers prefer independent retailers, citing personality, local impact and trust as the key factors influencing where they choose to shop, with fewer than a third prioritising price. In fact, being served face-to-face by a knowledgeable shopkeeper makes consumers 60 percent more likely to buy, while nearly all say they’d spend more on their local high street if there were a better mix of independent retailers. Consumers are clear on what they want more of, from independent fashion, home and gifting stores to cafés, food and specialist retail, pointing to a high street shaped by experience and everyday destination visits. This is reflected in how many independents are evolving their offer, with Kitty Evans Owner, Mookau noting, “If you come into the shop every week, it should look different, you should always see something new.” Beyond individual store strategy, the Voices of Retail report highlights collaboration as one of the most underutilised growth levers on the high street. While 89 percent of retailers who collaborate with other local businesses report a positive commercial impact, from increased footfall to new customer acquisition, just 23 percent are actively doing so. This highlights a clear opportunity for retailers to unlock growth not only by working more closely with neighbouring businesses through joint events, shared marketing and community-led initiatives, but also by building connections with like-minded retailers in non-competing locations to share knowledge, ideas and best practice. As Arlene Mulligan & Orlagh McVeigh, Manager & Buyer at Donaghys explain, “We’re trying to promote the town, to get footfall into the town, not just to us.” But success on the high street isn’t down to retailers alone. The data shows that local factors and external support play a critical role. Free parking emerges as the single most powerful lever, cited by 38 percent of retailers as the top intervention to unlock growth. Over two thirds of Brits (69 percent) said free parking should be readily available for shoppers staying under 90 minutes. As Diane Yartlett, Owner Nova Fortuny notes, “Parking is a big issue - we open later because of it.” Charlotte Broadbent, General Manager at Faire said: “We set out on a mission to understand what’s really happening on Britain’s high streets, to see if there’s more to the narrative than people think. And the reality is more encouraging. The British public doesn’t just want more independents on their high street. They want independent retailers to be their high street. Shoppers aren’t just looking for the cheapest option, they’re looking for people and places they believe in. Shopkeepers have an important role to play as our trusted experts and there’s big spending power on the table for those who get it right. A new report from Spring & Autumn Fair and Faire combines insights from 650 UK retailers and over 2,000 consumers, revealing what separates growing retailers from those in decline - and what the data says to do about it. VOICES OF RETAIL REPORT
RkJQdWJsaXNoZXIy MTA0NTE=