There will be fewer retail markets in the future because they are not able to compete with supermarkets, cheap retail outlets and the Internet. This is the conclusion of the Communities and Local Government Parliamentary Select Committee.
Among the contributors to the Committee’s hearings were market traders who suggested ways to improve markets and assist market trading. They also explained why it is becoming harder to run a market stall and what makes a successful market.
The Committee found that despite the general decline, a growing number of markets are adapting successfully to change and they are expected to survive. The report recognizes the economic benefits of markets and also the significant role they play in encouraging social cohesion. Markets also play a part in the regeneration of town centres as well as in reducing environmental impacts in the retail sector.
The Committee recommends that councils consider using prudential borrowing, market champions at a senior level within the council, and co-operation with the private sector to promote markets.