[Study] Independent food shops reclaim the High Street
New independent businesses in the UK are capitalizing on the nation’s growing ‘foodie’ population.
The leading business insurance broker analysed over 40,000 independent retail outlets across the UK and discovered an increase of 27 per cent in independent food merchants year-on-year* across the nation.
This rise of independent food and drink retailers may demonstrate a consumer backlash against national supermarket stalwarts and an increased desire to buy local produce. Small businesses are stepping in to satisfy consumer appetite, as Britons increasingly prefer to shop local and veer away from out of town supermarkets.
The study also identified an average increase of 18 per cent in Britain’s independent shops overall year-on-year*, supporting recent research which revealed that the number of empty shops on the UK high street fell to their lowest level in three-and-a-half years in December 2013.
“The surge in independent food merchants exemplifies the nimble nature of small businesses as their success is often determined by smartly tapping into growing trends at the right time”, comments Jason Stockwood, CEO of Simply Business.
“We hope these independent food and drink stores will profit from consumers turning their backs on established supermarket chains in favour of their local providers who breath new life into community high streets. Independent businesses are vital to the ongoing growth of the UK economy and our findings reinforce this.”
