With the festive season approaching, many people will be visiting the UK high streets for Christmas gifting and the Black Friday sale, meaning our shopping districts are set for an influx of footfall.
In the last few years, the term “The Death of the High Street” has become a common phrase as the popularity of digital shopping rises. However, with nearly 7,000 high streets in Great Britain* and over 320,000 retail businesses operating in 2024*, adapting to shifting consumer needs has never been more exciting for physical retail.
With this in mind, the new study from SumUp, a provider of POS systems, aims to understand more about the UK’s evolving high street, by using ONS data to analyse new business registrations over the past five years in the UK, regions and cities where high streets are thriving and discover which industries are flourishing.
THE INDUSTRIES GROWING THE MOST ON UK HIGH STREETS
Rank | Industry | Percentage increase 2020-2024 |
1 | Telecommunications equipment stores | 44.4% |
2 | Games and toy stores | 44% |
3 | Clothing markets and stalls | 26.5% |
4 | Bakeries | 25% |
5 | Non-specialised stores | 21.1% |
Telecommunications equipment stores have increased the most on the UK high street since 2020
[Image Credit: Unsplash]
The tech sector in the UK was estimated to be worth £15 billion in 2020, and since has been valued at £1 trillion*, therefore, it makes sense as to why telecommunication stores were ranked as the industry increasing the most on the UK high streets in the past five years.
The sector has grown a staggering 44.4% between 2020 and 2024. The searches for tech stores in the UK have seen a 184% rise this year, so we can only expect this sector to continue to flourish.
Toy and games stores are the industry growing the most on the UK high street since 2020
[Image Credit: Pexels]
The UK is currently home to an estimated 37 million gamers and with searches up 236% for video games stores in the UK, it comes as no surprise that the toy and game industry claimed the title for the industry which has grown the second most on UK high streets.
New research from SumUp found that toy and games stores saw the highest increase of 44% in openings between 2020 and 2024, just 0.4% behind the top spot. The industry is particularly thriving in England, the North West, West Midlands, East, and South-East, where the toys and games stores were the most increased retail industry within the region.
Clothing market stalls over take specialised fashion stores in growth
[Image Credit: Unsplash]
Clothing market stalls have emerged as the third fastest-growing retail industry, with a 26.5% increase in businesses since 2020, compared with clothing retail stores which grew just 1.65% in comparison.
Market stalls are redefining the fashion retail experience and bringing new life to the high street as clothing stores see slower growth. This proves there’s still a resounding demand for in-person clothing shopping, just using a different method, particularly in Wales where clothing markets landed the top spot for increased industries, growing by 100%.
