The high street has been described as "doomed" or simply "dead" but this is far from the truth. More and more people aged 20-29 are moving to the city centre with some of the main factors cited as better job prospects, higher salaries and a better standard of living. The other factors are high-end shops and shopping experiences, nightlife and a fun lifestyle.
Retailers should be looking at the figures for an increasing city centre population as an opportunity for more stores, store refits and refreshers all updated with the latest technology.
A recent article published by the BBC explained that it is highly likely that as more young people return to city centre living, there will be an added demand for more entertainment venues, bars, restaurants and retailers.
The opportunity for inner-city retailing has not gone unnoticed with a leading flatpack furniture retailer stating that even in a fast-changing retail environment the opening of city centres shops shows the level of excitement around city centre shopping and being able to meet the needs of a growing population.
There is a real opportunity for retailers who are looking to take advantage of the increasing population within inner cities with store expansions, refits and refreshers. With so many youngsters moving the city centre, it's important that all the retailers see this as an opportunity for its retail store to cater to a growing inner city client base.
If you are planning a new store refit, expansion or store refresh then speak to us today and find out how we can support your store development plans:
Call: 01235 539 101
(Swinney and Carter, 2018)
The UK's rapid return to city centre living
Swinney, P. and Carter, A. (2018). The UK's rapid return to city centre living.
House Building Under The Tories Drops To Lowest Level Since The 1920s
(Bennett, 2018) Bennett, O. (2018). House Building Under The Tories Drops To Lowest Level Since The 1920s.