Debenhams the most missed high street store, study finds
As more stores shut down nationwide, the experts at Liquidation Centre have analysed search data to reveal which former brand names consumers want to see back on our high streets.
The top ten High Street brands consumers want back based on the average monthly search volume across the UK, are as follows:
Debenhams is the retailer that most consumers want to see back on their highstreets, with a huge 499,000 average monthly online searches. Boohoo bought the brand and its website in 2021, but didn't buy its high street stores, which eventually closed down.
Richard Hunt, Director at Liquidation Centre offers expert insight on the demise of household brands, and key lessons for today's retailers on how to stay relevant in an evolving and competitive market.
He said: 'The current economic climate poses increasing risks to businesses, especially those in the retail sector. It is much easier to lose consumers than to retain them, which is why regular market research and competitor analysis are so essential. Staying ahead of the curve as conditions evolve is critical to long-term survival.
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'As we've seen, poor financial management and decisions have contributed to the downfall of several once-iconic household brands, proving how crucial it is to have effective financial strategies and management in place.'
'For businesses facing financial strain, the first step is to thoroughly assess all revenue streams and expenses. Exploring debt management options and cutting unnecessary costs where feasible is key. This might include negotiating with creditors, landlords, or suppliers to ease financial pressure and begin recovery.'
'If a business reaches the point where liquidation becomes a risk, swift action is vital. Seeking advice from a licensed insolvency practitioner (IP) can help clarify your options and potentially avoid insolvency altogether.'
What shops do you miss? What would you like to see back on the high street?
Get in touch and let us know.
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