'Independent c-stores on high streets saw strongest growth in 2021'

UK’s high streets saw an increase in the number of independent retail businesses for the first time in five years in 2021, claims new data, with independent convenience stores seeing the strongest growth.

According to figures provided to the Financial Times by the Local Data Company, a net 2,157 new independent outlets opened in town and city centres during 2021.

The growth was particularly strong in some of the areas with the highest rates of vacant shops. Wales witnessed the highest number of net openings — openings minus closures — followed by the north-east and the north-west.

Independent convenience stores have seen the strongest growth, with more than 600 more stores opening than closing during the year as lockdowns encouraged more local shopping. There was also strong growth in the numbers of barbers and beauty salons and — despite the disruption caused by Covid-19 — cafés, restaurants and bars.

“This shows that indies are utilising this opportunity when rents are favourable and supply at its greatest, while landlords are also more willing given the surplus of vacant space,” FT quoted Ronald Nyakairu, head of insights and analytics at LDC, as saying.

By contrast, equivalent figures for chain retailers released in February showed that their outlet numbers are still in decline. A net 10,059 units closed, the highest number in at least seven years.

Lucy Stainton, LDC’s commercial director, said net decline in chain stores happened due to both closures including high-profile corporate failures such as Debenhams and Arcadia as well as dearth of new openings.