It seems like every week comes the news of another high street staple closing branches, or even worse, going into administration.
Last year, Wilkos shocked the nation as it went into administration and closed all stores, although more are expected to reopen this year. This week, The Body Shop announced it is also facing administration.
Marks & Spencer has confirmed it would close 67 stores over the next five years while opening more than 100 Simply Food stores as it responds to what shoppers want.
Pharmacy favourite Boots has plans to close 300 branches across the UK.
Peacocks, New Look, Sports Direct and Trespass have all wiped stores from the high street.
Popular brands have closed their high street stores
PA
There are lots of reasons for this, including the convenience of online shopping, the cost-of-living crisis and a drop in footfall accelerated by the coronavirus pandemic.
While footfall has shown rises year on year, data from Springboard showed 2022 footfall was still 14.2 per cent lower than pre-pandemic 2019 levels.
In 2023, Santander UK research found the rising cost of living had caused the "toughest winter in memory" for high street retailers.
Almost two-thirds of high street retailers reported the financial crisis had made it more difficult to run their business.
Pair this with the ease of online shopping - Forbes found 59 per cent of people prefer to shop online - and many retailers must reconsider how they operate.
It's not all bad news, however. Some businesses have seen the opportunity to use pop-up stores as a way to win back customers.
The concept stores are filling once-empty spots in the high street and big brands have jumped at the chance to get involved.
Brands that are usually online-only such as Glossier, Shein and even Amazon have attracted Britons back to the high streets with pop-up concepts.
Small businesses also have the chance to make waves on the high street with pop-up stores.
Tillie Peel, founder of The Pop-Up Club, knows all about the benefits of this.
Her company "transforms empty retail spaces on the high street and turns them into independent and small business shopping experiences with pop-ups taking place around the country from London, to Manchester, Chelmsford and Brighton".
This has helped to make £1.3million for independent businesses since it opened.
Tillie explained the high street has changed a lot in the last few years, especially with the aftermath of the coronavirus pandemic.
She exclusively told GB News: "There have been huge changes post Covid, and there’s an enormous evolution happening on our high streets - they are very much not dead, despite that being the narrative that we constantly hear. Customers and consumers just want something different.
"I think the retail model is broken, shopping centres owned by pension schemes or investors that operate with huge investment targets mean they would rather places be empty than be filled at lower rental rates that will damage their ‘investment’, instead of being occupied by brands and retailers that benefit the local area and are suited to shoppers on that high street.
"I also think that business rates are an outdated model and can have a huge impact on a retailer’s decision whether to occupy the high street or to simply trade online instead.
"How the high streets will look in the future is changing and I do think we see more pop-up concepts and shared models opening up the high street to more businesses."
While footfall has dropped overall, there will be a resurgence, according to the expert.
"In recent years these models like ours have gained momentum and experiential events are what consumers want to see more of and to be involved in," she added.
"We’ve also seen footfall on the high street rising across the UK and the rate that shops are closing is slowing down now too, which I do think comes from shoppers being more conscious of their local high street and economy and wanting to see more from it to keep it alive.
"Pop-ups bring something new and unique to the high street, and they’re still very different from what the high street would traditionally have. Plus we see a lot of interest as people connect with them as they sell products and items made locally, supporting local businesses and benefiting their local economy.
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Stores are going to close 300 branches
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"People are more conscious of what they buy due to factors such as cost of living and being more sustainable, yet they still want to support more businesses and this is drawing attention towards smaller retailers and away from the big names that might have previously been a draw.
"Another factor making pop-ups attractive is that there is always something new and they’re only available for a limited time so that’s a huge draw for shoppers too."
Retailers - particularly supermarkets - are also seeing opportunities to invest and grow.
Aldi opened its 1,000th UK store in 2023 and shared plans to open a further 500.
While it's not a traditional high street store, the supermarket opening branches shows Britons are not yet turning to online shopping for all of their needs.
In recent weeks, Marks & Spencer shared it will back the Scottish high street with plans to invest £30million in bricks and mortar stores across Scotland.
This will include five new stores and other expansions over the next 18 years.
We can't deny online shopping is going to keep rising in popularity.
It's projected to grow at a compound annual growth rate of 14.6 per cent between 2021 and 2028.
The high street is unlikely to fully recover to a time before Covid and online shopping, but it's not as "dead" as it may appear.
Tillie said the high street can recover, but reckons the current model needs to change.
She added: "I’d really like to see change going forward and see the business rates drop or be scrapped completely to encourage more retailers and businesses to take up on the high street.
"Pop-ups have already had a massive rise compared to when we started seven or eight years ago, but I see the trick is making sure they’re accessible for the retailers and brands that need them the most.
"There are many pop-up style experiences that don’t always work but those with small businesses at the heart of it are the ones that will survive and continue to thrive and grow.
"If they can keep the values of small businesses and make it affordable, that’s what will make them successful and that’s what most businesses praise us for and see them return to us again and again."
