The landscape of the British high street has changed “dramatically,” with beauty salons and unlicensed cafes taking over banks and clothing shops, research has found. Reporting on the changing dynamics of the high street from 2010 to 2023, the agency said that over the last 13 years, nearly 2.5 new hairdressers or beauty salons have opened every day.
On the other hand, shoppers have witnessed a sharp decline in the number of banks available on high streets. “In terms of businesses leading the way in disappearing from our high streets, the number of banks has declined by over 60 percent since 2010 as online banking reduces the need for many of us to go to a branch,” researchers said. Meanwhile, non-store retailing businesses—via mail or internet orders—have enjoyed the biggest increase.
“These types of business are far less likely to be on the high street of towns and cities, but their growth is a reflection of the changing way that we shop, often to the detriment of high streets,” the research said. Elsewhere, the number of unlicensed restaurants and cafes have more than doubled in number, reflecting “the rise of coffee and foodie culture in Britain.” Researchers attribute this evolution of the high street to the rise of online shopping and banking, as well as the pressures of the cost-of-living crisis on consumers.
The surge of inflation and interest rates in the post-COVID-19 pandemic years have added to the financial pressures of keeping high street sho.
