Landlords, local authorities and town centre partnerships must
bring imagination and focus to bear on town centres in the face of
retail carnage on the High Street, according to retail experts at
national commercial property firm Lambert Smith Hampton (LSH).
They warn that the collapse of many major retail chains and
continuing poor trading mean that planners need to focus on
alternative uses and regeneration to ensure that, as shopping
pitches contract, the lifeblood doesn't flow out of city and town
centres.
Julian Welch, LSH's Head of Retail, said that increases in
internet trading were masking continuing falls in High Street
footfall.
He said, "Next has posted figures showing a 3.1 per cent rise in
like for like sales in Q4 last year, but it is very telling that
their High Street stores showed a 2.7 per cent sales drop while
their online sales saw a huge 16 per cent increase. Waitrose has
announced a rise of 9.5 per cent in December, but put much of their
success down to a strong on-line offer. And Amazon had a very
successful trading period.
"Meanwhile there is carnage on the High Street, with Hawkins
Bazaar, Blacks, La Senza, Barratts and D2 all running out of road,
while Past Times, Clinton Cards, HMV and Thomas Cook are finding
life very difficult, on top of all the big names we lost in 2011.
The common thread here is that those without a strong on-line
presence are feeling the pinch. More than a pinch, in fact. They
are facing a significant and fundamental assault on their very
existence."
He added, "Gone are the days of the national chains requiring a
presence on every High Street, in every shopping centre, and with
multiple units in a single town or city. E-retail is inexorable in
its progress. There is no longer a need for huge piles of bricks
and mortar and those operators that have expanded into large
numbers of locations are now feeling over-stretched and
exposed."
He saidd, "Retailers with a strong on-line presence will
continue to prosper. Those without, or without a unique offering,
will not. They will continue to suffer and seek solace in the
pre-pack solution to their troubles.
"The High Street will need to continue to evolve to keep up with
changing circumstances. It is clear that there will be increasing
vacancies and a lack of new operators to fill them. This situation
calls for all of the imagination and vision that planners and
landlords can muster if town centres are to be saved from near
desolation."
For more information about Lambert Smith Hampton, please visit
their website here: www.lsh.co.uk