IT'S the most wonderful time of the year, allegedly. And historically profitable for most high street retailers too.
Manchester Arndale recorded their best ever footfall figures in December 2012, clocking up nearly 250,000 shoppers on 1 December alone – an increase of seven per cent on the previous year. On top of that, the centre also reported average weekly footfall levels at around the one million mark. That’s a whole lotta shopping.
The pattern of online shopping and downloads, less big spending and a preference for cheaper counterparts are all evident in this list.
Speaking at the beginning of December, David Allinson, centre director for Manchester Arndale said: “Even if the weather takes a turn for the worse, as we offer everything for shoppers all under one roof, it is unlikely we’ll be really affected.”
Unfortunately, not all of Manchester Arndale’s neighbours can say the same. Still in the midst of a recession, several once British high street shopping staples have fallen by the wayside this year.
The ten hardest hit retailers of 2012 are as follows:
Comet – 236 stores and 6,611 employees.
Sales of big items and appliances have fallen or are otherwise being purchased online.
JJB – 180 stores and 4,000 employees.
Sales have been in decline for five years as JJB are unable to compete with rival Sports Direct.
Game – 600 stores and 5,800 employees.
Saddled with debt from its £74m purchase of rival GameStation in 2007 and affected by online sales.
Thorntons – 591 stores and 4,375 employees.
Weaker footfall on the high street has led to a fall in sales.
HMV – 285 stores and 6,500 employees.
HMV reported a six month pre tax loss of £45.7m partly caused by online competition.
Carpet Right – 559 stores and 2,700 employees.
Weakness in the housing market has resulted in the decline of household purchases.
La Senza – 146 stores and 2,600 employees.
The brand blamed 'high street trading conditions' and the economic environment for its dramatic drop in UK sales.
Peacocks – 611 stores and 9,600 employees.
The discount fashion chainstruggled to refinance its £240m debts.
Habitat – 33 stores and 900 employees.
Affected by cheaper rivals such as Ikea.
Clinton Cards – 750 stores and 8,300 employees.
Affected by competition from supermarkets and online retailers.
The pattern of online shopping and downloads, less big spending and a preference for cheaper counterparts are all evident in this list.
But it’s not all bad news. A reported 13million people went shopping on December 27, spending over £2.4bn on the high street and £0.4bn online.
It would seem we’re willing to spend after all, just so long as it’s in the sales.
