The Decline of the High Street: Superdrug Closure Adds to Bournemouth’s Woes
The familiar narrative of high street decline continues to unfold across the UK, with Bournemouth serving as a recent example. Superdrug, a major retailer with over 800 branches, is set to close its Commercial Road location on January 31st, adding another vacancy to the town centre. This closure comes as a blow to local shoppers, who will now have to travel further to access the retailer’s offerings, with the nearest branch located 3.1 miles away on Christchurch Road. The reason for the closure stems from the landlord’s redevelopment plans, which involve converting the existing building into smaller units. This decision mirrors a broader trend of repurposing retail spaces to accommodate shifting consumer habits and economic realities.
The closure of Superdrug is not an isolated incident in Bournemouth. WHSmith is also slated to close its town centre branch on January 18th, following the closure of its Boscombe branch in June 2024. This string of closures has understandably sparked concern and frustration amongst local residents. Some have expressed their dismay at the town centre’s transformation into a "ghost town," lamenting the loss of convenient shopping options and familiar landmarks. The sentiment of loss extends beyond mere convenience, as shoppers mourn the disappearance of beloved stores like WHSmith, which was a popular source for art supplies.
The broader context for these closures paints a bleak picture for the high street. A combination of factors, including the rise of online shopping, high business rates, and soaring inflation, has created a challenging environment for brick-and-mortar retailers. The Centre for Retail Research estimates that a staggering 13,479 stores closed in 2024, averaging 37 closures per day. This figure encompasses both independent shops and larger retailers, with over half of the closures attributed to insolvency proceedings.
The trend of store closures is projected to continue in 2025, with the Centre for Retail Research forecasting the closure of approximately 17,350 retail sites. This prediction underscores the ongoing challenges facing the retail sector and the increasing pressure on businesses to adapt to evolving consumer behaviour and economic pressures. The Body Shop, for instance, is set to close five branches in January 2025, joining the growing list of retailers streamlining their physical presence.
The challenges facing retailers extend beyond store closures. The British Retail Consortium anticipates a significant financial burden for the sector due to increased employer National Insurance Contributions (NICs). Furthermore, research conducted by the British Chambers of Commerce indicates that a majority of companies plan to raise prices in the near future, primarily driven by rising employment costs. This confluence of factors creates a difficult economic landscape for businesses and consumers alike.
The cumulative effect of store closures and rising costs has a significant impact on employment within the retail sector. Professor Joshua Bamfield, director of the Centre for Retail Research, has issued a stark warning, predicting that as many as 202,000 jobs could be lost in the sector in 2025. This potential loss of employment underscores the gravity of the situation and the far-reaching consequences of the ongoing retail downturn. The projected job losses could potentially surpass those experienced during the peak of the pandemic in 2020, highlighting the severity of the challenges facing the retail industry.
The Superdrug closure in Bournemouth, while a localized event, serves as a microcosm of the broader challenges facing high streets across the UK. The convergence of factors like online shopping, economic pressures, and changing consumer behavior has created a perfect storm for traditional retailers. As shoppers increasingly turn to online platforms for their purchases, brick-and-mortar stores struggle to maintain their relevance and profitability. The future of the high street remains uncertain, and further adaptation and innovation may be necessary to ensure its survival in the face of evolving consumer demands and economic realities.
