I hate how the one bookshop that should die - the overpriced monopoly university bookshop - is likely the only one that will survive long term.
One of my concerns with retail is more that the lack of strength in suburban shopping strips isn’t reflected in the ever increasing property values.
Near me the vacancy rates are huge, and there’s always shops being re-entered due to non-payment of rent, or restaurants that last 6 months at best. Yet despite that, auctions seem to be successful, people keep buying the shops because it’s prime real estate, but that means taking on huge debt to buy more expensive property that just kills any margins already marginal businesses have.
I dunno what’s the way out of that - do councils need to start cutting rates for small retail businesses to try and keep shopping strips alive? Do they embrace their death and put a clearway in to finish them off?
I suppose the other question is - what is more at risk, the newsagency standing alone in a shopping strip, or the one inside a shopping centre getting an up market redevelopment?