A new report has revealed the presence of retail stores on the high street has fallen to 30%, with major brands increasingly favouring an online presence.
The report, compiled by Together, included analysis of a sample of 6,682 businesses across 120 high streets from towns in all 12 regions of England, as well as Wales, Scotland and Northern Ireland.
Despite the fall, retail still remains by a long distance the sector with the largest share of the high street, next followed by cafes (9.27%) and food and drink (8.24%).
The report also revealed that Yorkshire was the area with the most ‘desirable’ high street with having the highest percentage of retailers at 42%, while the West Midlands was placed lowest with 9%
The research suggests that local independent shops are of high importance to British homeowners – in fact, more than one in three Brits would like to see a return to smaller, local shops in their town.
Together is a specialist lender, offering short-term finance, auction finance, personal, commercial and buy-to-let mortgages and secured loans.