The National Association of British Market Authorities (NABMA) has published it’s 2022 National Markets Survey revealing that there are major challenges for the UK industry in the future.
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.
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.