Markets Return, but will some Survive? Survey Findings
As markets and the high street slowly return then NABMA has invited its members to provide updates on market performance during the first month of restart.
Generally footfall is currently around 40% and 95% of markets indicate trading is now taking place. In 20% of those markets then trader numbers are being restricted.
Of concern is the headline that an average of 20% of traders suggest that they will not be returning. If this trend extends across the country then realistically some 10,000 traders may be lost and impact upon the viability of many markets into the future.
As a reminder the NABMA lockdown survey indicated that 35% of market operators felt their markets were at risk of closure. The real impact for local authority markets will become clearer as budgets are finalised and agreed for 2021/22 appreciating that markets are a discretionary service.
Without doubt market operators have experienced a most difficult time since 23 March. Our survey update now indicates that 70% have received no national funding with any support being through local arrangements. In comparison feedback suggests that 80% of traders have received some funding support.
The High Street Sector Leaders Group also received an update today that one in five residents as surveyed indicated That they did not feel confident to come out to the high street at present.