65 BUSINESS But, retailers can’t do it alone. They’re already running their business and wearing many hats. The conditions around them need to catch up. With free parking, better local support, and a high street that’s genuinely easy to visit, the infrastructure can match the demand. It’s time we backed our independents and made the high street easily accessible.” Retailers are calling for stronger local storytelling, more coordinated events and improved support from councils and Business Improvement Districts, highlighting that high street performance is shaped as much by place as by individual business strategy. With strong consumer demand and clear strategies for success, the report suggests the opportunity for independent retailers is not constrained by demand, but by execution. Jackson Szabo, Portfolio Director, Hyve Group said: “What the Voices of Retail data shows is that the high street isn’t declining, it’s evolving. The retailers seeing growth are those giving customers a reason to visit, through experiences, events and a more personal approach. “There’s also a clear divide. Retailers competing on price are more likely to be under pressure, while those investing in experience, quality and connection are pulling ahead. Collaboration is increasingly playing a role, from joint events and shared marketing to crossstore referrals, helping retailers reach new audiences and build momentum. And in regions where this is happening at scale, we’re seeing stronger growth, highlighting the importance of local ecosystems. “The opportunity is there, but it’s those adapting their offer and thinking beyond the transaction who are seeing the strongest results.” The findings are echoed by independent retailers on the ground, many of whom are already shifting their approach to focus on connection, storytelling and experience rather than price competition. Key findings from the report Taken together, the findings point to a clear playbook for independent retailers: Retail performance and growth • 71 percent of independent retailer report stable or growing trade, of which 86 percent are reporting growth of 20 percent and over. What’s driving growth (and decline) • Retailers investing in brand storytelling are 19 percentage points more likely to grow. • Improving in-store experience and local sourcing each deliver a 13-point uplift. • 45 percent of declining retailers have pivoted towards lower-price products, highlighting the risks of competing on price. Consumer demand and opportunity • Over 80 percent of shoppers prefer independent retailers over chains, particularly in categories such as fashion, homeware, gifting and specialist food, where personality, quality and discovery are key drivers. • Consumers are willing to spend up to £145 per month on their local high street if there is greater variety, highlighting the significant untapped spend available to independent retailers if they align with consumer demand. • Face-to-face interaction makes shoppers 60 percent more likely to buy. Collaboration and community • 89 percent of retailers who collaborate report a positive commercial impact. • Yet only 23 percent are actively collaborating today. • 83 percent say they want to collaborate more, pointing to a major untapped opportunity. Local high street levers • 38 percent of retailers say free parking is the single most important intervention. • 63 percent of consumers say free parking would increase visits. • Retailers also call for stronger local marketing, more events and improved council support. Future priorities for retailers • While 71 percent of independent retailers report stable or growing trade, only 28 percent are actively investing in growth, pointing to a clear gap between current performance and future potential. • 53 percent prioritise online growth alongside physical retail. • 52 percent focusing on marketing and brand storytelling. • 40 percent planning more events and in-store experiences. What this means for retailers In practical terms the report highlights five clear actions for retailers: • Differentiate through brand, storytelling and product curation. Change your displays regularly and tell the story behind what you sell. • Invest in experience-led retail, including events, in-store engagement and personal recommendations that give customers a reason to visit. • Collaborate with neighbouring businesses to increase footfall. Even one joint event or shared promotion can open up new customers. • Align with consumer demand for independent fashion, homeware, gifting and specialist food by actively sourcing distinctive products. • Focus on value beyond price. Curate collections worth paying full price for rather than discounting to compete. With strong consumer appetite for independent retail, the report highlights a clear opportunity for retailers to adapt their strategies and capture increased spend. The Voices of Retail Report is available to download now with case studies at: https://www.springfair.com/voices-retail-report
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