Six in 10 Brits polled fear the high street will be gone in a decade

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27th February 2019 17:36 - Retail

Six in 10 Brits fear the high street will be gone in a decade: With the huge growth of online retail the high street has been in decline - with new reports of favourite stores closures being announced in the national news all the time. 
 
Research by KIS Finance has found 61% of UK consumers polled are worried that within 10 years there will be no high street. 
 
Respondents (1,000) were asked which factors could entice them back to the high street with four in 10 (41%) saying they would like to see more staff to make the experience faster, while a third (34%) said having a clearer stock check system might persuade them to ditch their online basket. Just over a quarter (26%) would like to see self-service checkouts to save them from queueing, while 27% propose a 24-hour service so they can shop any time, night or day. 
 
The research also revealed the stores people believe will be most and least likely to exist in the next decade. Standing the most chance of survival according to respondents are restaurants, which they placed in the strongest position, followed by coffee shops, second-hand shops and bars. At the bottom of the list were independent retailers followed by travel agents, banks and cinemas. 
 
High street stores most/least likely to survive: 
 
1.Restaurants
 
2.Coffee shops
 
3.Second-hand shops
 
4.Bars
 
5.Fast food restaurants
 
6.Retails chains e.g. department stores
 
7.Clubs
 
8.Cinemas
 
9.Banks 
 
10.Travel agents
 
11.Independent retailers
 
 
The research also mapped which regions of the UK had been hit the hardest by high street store closures in the last year - with Leeds, Glasgow and Aberdeen taking the top three places. 
 
The cities hit hardest in the last 12 months:
 
1.Leeds
 
2.Glasgow
 
3.Aberdeen
 
4.Bradford
 
5.Cardiff
 
6.Doncaster
 
7.Leicester
 
8.Manchester
 
 
Holly Andrews, Managing Director at KIS Finance said:  "The reason why so many retailers are struggling with their stores is because consumer shopping habits are changing and the high street needs to change with it, creating a more community-led atmosphere with more accessibility and variety for everyone.”
 
You can read the full report here 


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