Who said the high street was dead? With soaring temperatures in the UK, the public is shunning their computers and phones and heading to the Great British high street to part with their hard-earned cash.
According to the latest CBI Distributive Trades Survey, 32% of retailers said that sales volumes were up in July than compared to a year ago and 13% said they had to place more orders with suppliers as a result. A combination of the unusually nice weather (does this weather even belong in the UK?) and World Cup fever have been thanked for the boost in high street sales this July, which also saw 45% of motor traders report that sales volumes were up compared to this time last year (convertible anyone?).
These figures should be seen as a huge positive for the high street, especially following the results from the survey campaign #WDYT (What do you think?) which found consumers want more and better shops available to them. The survey, which was completed by 300,000 people, found that 78% of respondents worry about the high street and 70% are concerned about shops closing – proving that the public still back “popping into town” to do their shopping.
All the positives do come with negatives though – in the same CBI Survey, retailers reported that they expect sales to slow again in August and orders to flatten out. With subdued real wage growth, households are still feeling the financial pinch and retailers are still battling with the reduced costs online retailers are able to offer.
Along with the Government’s inquiry into high streets and town centres 2030 to examine how local areas are planning for the future of their high streets, this month’s results should be seen as a step in the right direction to securing the future of the British high street.