Mission for Markets reports that since 2009, the retail markets sector has shrunk by over a third. £1 billion (A$1.8b)has been wiped from the ledgers and 12,000 businesses have packed up their stalls and ceased trading. The sector now has a collective turnover of £2.5 billion (A$4.58b) a year from around 33,000 market traders.
The sector turned a corner in 2012. Collective turnover has increased by £200 million (A$366m) year on year. NABMA and the NMTF forecast that retail markets will turn over £4 billion (A$7.32b) by 2020. Operators continue to invest in markets, with £36.6 million (A$67m) invested in 2014/2015.
Mission for Markets continues to lobby the UK government and seek greater integration of market activities into town centre offers. They encourage operators and traders to adopt best practise and resource sharing for the good of the whole industry. They say that their industry is undergoing a period of renewal and they encourage change as a positive for the sector.
The sector turned a corner in 2012. Collective turnover has increased by £200 million (A$366m) year on year. NABMA and the NMTF forecast that retail markets will turn over £4 billion (A$7.32b) by 2020. Operators continue to invest in markets, with £36.6 million (A$67m) invested in 2014/2015.
Mission for Markets continues to lobby the UK government and seek greater integration of market activities into town centre offers. They encourage operators and traders to adopt best practise and resource sharing for the good of the whole industry. They say that their industry is undergoing a period of renewal and they encourage change as a positive for the sector.