05/03/2023
The National Association of British Markets Survey 2022
The National Association of British Markets has produced a survey from late 2022 highlighting the current state of the local market sector - it makes interesting reading. The survey in it's entirety can be read here
At Fleet Market, we believe we can have a positive impact on both the local economic and social scenes, and are fortunate to operate on a cost neutral basis (we don't make or lose money at present). We are grateful for the support of our stallholders and the people of Fleet and surrounding areas, and look forward to a bigger and brighter Fleet Market as the weather continues to improve!
Some key highlights from the report are:
The number of Markets across the country remains about the same over the last fifteen years at around 1150, with some Markets still performing very successfully but the overall picture is less attractive. Stall occupancy is down from any average of 77% in 2018 to 72% in 2022 and that figure needs to be considered with caution as there is evidence of a substantial reduction in stalls since 2018 meaning there are substantially fewer traders operating on Markets.
Trader numbers have reduced and The Survey has revealed that only 8% of traders are under 40 suggesting that within a short time we could see a disappearance of many older and very experienced traders. Local authorities dominate markets management with around 84% of Markets being operated under the auspices of local authorities that includes a significant number of parish, town and community councils.
It is of great concern that only 40% of Markets are currently showing a surplus on their trading account which again represents a significant decline from the picture revealed in the last Survey in 2018.
Markets are recognised as a major force for High Street regeneration and one of the more welcoming results from the Survey is that 25 Markets are announcing major redevelopment/ refurbishment plans with the assistance of £127m of government and local authority funding. This indicates confidence in Markets but in order to secure the successful implementation of the various funded projects , and the future of the markets industry, NABMA recognises the need to address the challenges issues highlighted in the 2022 Survey.
