Cabinet Member for Economic Regeneration and Prosperity Councillor Peter Bilson was responding to the publication today (Wednesday 4 September, 2013) of the Grimsey Review led by former Focus boss Bill Grimsey which makes 31 recommendations to Government to revitalise the high street.
Councillor Bilson said: "I welcome a national debate that considers ways we can adapt to the big challenges facing the retail sector - and the role that local government might play in 're-visioning' the high street.
"High street retailers are experiencing huge challenges - and this is having a knock on effect on town and city centres all over the UK. Not only has the sector been hit by the economic downturn, the convenience of internet shopping is changing consumer behaviour quite dramatically.
"Here in Wolverhampton, we believe a whole range of measures is required to tackle the structural changes in retail and their impact on the high street. The city's participation in the Portas Pilot is starting to pay off with businesses like The Shop in the Square showcasing local start up businesses and Corpse Clothing which appeals to a niche market. With their uniqueness and individuality, independents can bring vibrancy to our city centre, which is why the council is committed to them prospering. In addition to Portas, the council is actively stimulating business growth, encouraging businesses to relocate or to stay in the city centre. It's tough securing private sector investment in the current climate, but through projects like the Interchange, the Youth Zone and the city centre improvements, we're using public funds to stimulate that investment.
"Finally, protecting our city centre's cultural assets is also critical to maintaining and increasing footfall to our high street. When we combine our retail offer with our theatres, galleries, exhibition spaces, cinema and Civic Hall, we can provide the kind of visitor experience that cannot be replicated on the internet.
"Our 'holistic' approach to revitalising the city centre is starting to pay off. We're noticing a steady increase in consumer confidence. The city centre vacancy rates have remained steady over the past few months with 20 new independent shops opening in the past 8 months. It remains a challenging trading environment with some independent stores closing, but these have been replaced by new businesses - generally retail although there has been a slight increase in the service providers."
- released: Wednesday 4 September, 2013