Retail
Sector Focus
Retail therapy: Birmingham’s stores will be hoping for a good Christmas
Retailers rally ahead of Christmas
The West Midlands retail sector is rallying ahead of what is likely to be a testing Christmas trading period, according to research by insolvency and restructuring body’s R3. The organisation’s September figures, compiled using Bureau
Van Dijk’s Fame database, reveal a year-on-year rise in the number of bricks and mortar retail stores in the West Midlands – increasing from around 11,800 to nearly 12,500 – as well as a decrease in their risk from insolvency. In September, 42.8 per cent of retailers had a higher than
normal risk of insolvency, two percentage points lower than the figure for September 2018 (44.8 per cent). The proportion of West Midlands online retailers at risk of
insolvency has also fallen, dropping from 39.7 per cent in September 2018, to 38.6 per cent last month. The number of online retail businesses in the region increased from
almost 3,600 to just under 4,100 over the same period. Of the retail specialisms monitored in the region by R3 – which include
home furnishing stores, clothes shops and leather goods retailers – it is book stores which have shown the greatest reduction in elevated insolvency risk levels.
Last month, 42.2 per cent of book stores in the West Midlands were at
elevated risk of insolvency, which is almost ten percentage points lower than the September 2018 statistic of 52.1 per cent. R3 Midlands chairman and Grant Thornton partner Eddie Williams (pictured) said: “This indication of a possible slowdown in heightened insolvency risk gives retailers a glimmer of hope in the run-up to Christmas. “Coupled with the growth in the number of retail
businesses in the West Midlands in the last 12 months, it would suggest that there is still confidence in the sector. “We should be in no doubt, however, that a large number of our region’s retailers are still facing strong economic challenges
to their success. “Their survival has not been helped by the fact that legislation designed to help cut property tax for shops failed to make it through
Parliament before it was suspended earlier this month. “As the highly competitive pre-Christmas trading period begins, it is vital
for business owners to monitor company finances carefully and plan for all eventualities. If cash flow becomes a major challenge, professional advice should be taken at the earliest opportunity.”
Creating positive experiences
I read with interest last month about the Bullring’s Christmas preparations and although, perhaps, the retailer names are not so well known, Burton also has seen a steady flow of new names being added to its offer in recent months, and The Wooden Spoon Cookshop, Menkind, Frieda, Ronnie’s and Burger King will all be enjoying their first Christmas in Burton. Some of these businesses
already have more than one outlet, some are just starting out and Burger King of course are everywhere. But what they all have in
common is a desire to achieve success while battling current political and the resulting economic head-winds. They believe they have identified
an opportunity and are giving it a go and this is to be commended and encouraged. Sadly for others the struggle in
2019 has proved too much and the retail scene in Burton will be missing at least three long
in the last 10 years, it is very difficult to try to predict the next 10. But one thing is certain, town centre visitors want more than just shops. They want positive experiences,
Retail Therapy
By Peter Hardingham General Manager, The Octagon Centre, Burton
established independent retailers this Christmas, all due to retirements of one sort or another - but what a shame that in each case there was no-one willing to take on the challenge and keep these fascias alive into a new decade. What a shame that all three of
these formerly busy outlets will stand cold and lifeless this Christmas, all part of the changing persona of retail. So much has changed in retail
something for all the family and they want it without hassle. It is for all of us that are charged with being the current custodians of our shopping centres and high-streets to deliver on those needs. That’s so that future Christmas
lights still shine brightly, our town and shopping centres remain alive with the buzz and cheer of this time of year, that Christmas shopping is still about coming home loaded down with bags of gifts, with smiles on faces and feeling excited and positive about the festive celebrations to come – and then doing it all again afterwards in the traditional Boxing Day sales. The festive period is just beginning and a new decade just around the corner. Enjoy! Merry Christmas and Happy New
Year. December 2019/January 2020 CHAMBERLINK 81
Christmas at the Mailbox
Birmingham’s Mailbox shopping centre has announced a number of special events and attractions to entertain Christmas shoppers. These will include festive
displays by floral expert Richard Randall, who will be at the Mailbox every Thursday, Friday, Saturday and Sunday until December. Live music will be
performed on various weekends throughout December. There will also be ‘Christmas by Mailbox’, where shoppers can browse a wide range of handcrafted jewellery, wreaths and decorations, as well as festive food and drink. David Pardoe, head of
marketing, retail and tenant engagement at the Mailbox, said: “We’re bringing a mix of local, independent sellers to our centre this Christmas to give our guests even more choice for gifts and decorations.”
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