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News - 2 March 2012
Big boys falter and tiddlers swoop in to replace them
Retail specialists The Local Data Company has published a survey of 500 town/city centres which has found that while chain stores are closing at an alarming rate, they are being replaced by small shopkeepers.
The number of independents grew 2.4% in 2011, with more than 15,000 new outlets opening - three times more than chains. Areas of expansion included fashion, autos & accessories, charity stores, pet retailers and pound shops and the star performer - nail bars which have increased by over 16%.
Perhaps showing evidence of the ‘lipstick factor’ during hard times i.e. consumers spending less but buying themselves relatively inexpensive treats, Superdrug reported sales of nail varnish increasing 37% last year.
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The Local Data Company