Markets 21 is a landmark in retail history; bringing markets to their rightful place on the political agenda, where they have previously passed beneath the radar.

The policy and research report was commissioned by the Retail Markets Alliance, in which FARMA works to represent the interests of farmers' markets in the UK. It was presented to the House of Commons last week.

The findings of the 2009 research show that:

• The UK’s retail and wholesale markets sector has an annual turnover of £7.6 billion generated by 47,000 small to medium enterprise (SME) businesses;

• The UK has 1,124 retail markets, 605 farmers’ markets, and 26 wholesale markets and directly employs 95,000 people

• Food sales appear to have held up better than non-food, with 58% of market managers surveyed reporting no change in the number of traders selling food and 30% reporting an increase.

The report’s author, Krys Zasada, said: “The report shows that markets matter. They bring richness and diversity to the High Street as well as giving customers choice and value for money. In this time of rising unemployment they are also important in terms of the jobs they create — currently supporting almost 47,000 independent trader businesses.

“Their performance during the recession has been mixed – just like the rest of the High Street — with good markets and traders continuing to perform well, while others have struggled. It’s important that we understand what makes a successful market so that others can learn from it. The successful ones are dynamic and innovative and respond to the changing demands of customers."

The review follows the release in July of the Communities & Local Government (CLG) Select Committee inquiry report into traditional retail markets, which concluded the key challenges facing the markets industry were investment and management.

In its response the Government agreed to champion markets with a new body that will bring together the key Government departments and market industry stakeholders.

Krys Zasada said: “The report also identifies the strategic priorities that the Retail Markets Alliance will raise with both central and local government to ensure that the markets' sector develops and thrives.’

TrackBack URI for this entry

Comments (0)

Subscribe to this comment's feed

Name

Email

Website

Title

Comment

smaller | bigger

Subscribe via email (registered users only)

I have read and agree to the Terms of Usage.

Write the displayed characters

Add Comment