PRN: Consumption Trumps Consumerism for High Street Entrepreneurs
Consumption Trumps Consumerism for High Street Entrepreneurs [21-June-2011] LONDON, June 21, 2011 /PRNewswire/ -- Â A Third of Independent High Street Shops are now Cafes, Pubs, Restaurants and Takeaways Independent Clothes Retailers and Newsagents in Decline Hairdressers and Beauty Salons Thriving Independent and start-up hospitality businesses, such as restaurants, pubs and cafes, are trumping independent retail stores on the high street, according to research by Simply Business, the largest business insurance provider in the UK.
Consumption Trumps Consumerism for High Street Entrepreneurs
LONDON, June 21, 2011 /PRNewswire/ --
Independent and start-up hospitality businesses, such as restaurants, pubs and cafes, are trumping independent retail stores on the high street, according to research by Simply Business, the largest business insurance provider in the UK. A study of 75,000 high street businesses quoted by Simply Business since 2008 shows that last year 31 per cent were restaurants, pubs or cafes, an increase of two per cent since 2008.Â Â Â
The figures also highlight some regional high street hot spots:
Comparison of the top 20 high street shops in 2008 and 2010 (not including food and drink)
National ranking - National ranking - 2008 2010 Change since 2008 1 CLOTHES SHOP 1 HAIRDRESSING Up one place 2 HAIRDRESSING 2 CLOTHES SHOP Down one place 3 GROCER 3 GROCER No change 4 NEWSAGENT 4 BEAUTY SALON Up one place 5 BEAUTY SALON 5 GIFT SHOP Up one place 6 GIFT SHOP 6 OFF-LICENCE Up two places ARTS, CRAFTS & 7 TEXTILES 7 BAKERY Up four places ARTS, CRAFTS & 8 OFF-LICENCE 8 TEXTILES Down one place 9 FLORISTS 9 NEWSAGENT Down five places 10 FURNITURE SHOP 10 FLORISTS Down one place 11 BAKERY 11 SWEET SHOP Up five places 12 COMPUTER 12 PET SHOP Up one place 13 PET SHOP 13 FURNITURE SHOP New entry 14 ELECTRICAL GOODS 14 COMPUTER New entry 15 SPORTS SHOP 15 ELECTRICAL GOODS New entry 16 SWEET SHOP 16 SPORTS SHOP Down one place 17 BUTCHER 17 BRIDAL SHOP Up two places 18 CHILDRENS CLOTHING 18 JEWELLERY New entry 19 BRIDAL SHOP 19 CHILDRENS CLOTHING New entry 20 CORNER SHOP 20 DELICATESSEN New entry
Figures are based on quotes requested by 75,198 business between 2008 and 2010.
Infographic about the research can be seen here:: http://www.simplybusiness.co.uk/knowledge/news/2011/06/2011-06-16-hospitality-wins-big-as-Britains-high-streets-evolve/
About Simply Business
Simply Business is the UK's largest business insurance provider.
Launched in 2005, the full service insurance specialist identified a need to improve insurance offerings for the UK's millions of small businesses whose needs were neglected by established insurance and broking companies.Â Where the traditional broking model was slow-moving and inflexible, Simply Business developed an agile and online brokerage service which was able to deliver bespoke policies tailored to their individual and often very specific requirements. Its online offering is supported by a dedicated, UK based team of insurance specialists who provide a tailored and personal service more commonly associated with broker relationships.
Today, Simply Business insures over 170,000 small business customers, more than any other UK broker. Â It has been a Sunday Times Tech Track 100 company for the past three years, with offices in London and Northampton, and employs over 140 people. Â Simply Business revenues have grown 44% a year from Â£4.2 million in 2006, to Â£12.5 million in 2009.
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