“Following a period of severe decline, the retail markets sector is starting to renew. It is encouraging to see £36.6 million has been invested into markets this year. But we know more can be done. We are encouraging organisers of markets to have a vision and to develop a strategy for their markets based on the needs of the communities they serve.”
Graham Wilson, chief executive, NABMA
The retail market sector has shrunk by over a third within five years. Since 2009, £1 billion has been wiped from the ledgers and 12,000 businesses have packed up their stalls and ceased trading. The sector now has a collective turnover of £2.5 billion a year from around 33,000 market traders.
Run by two leading trade organisations, the National Association of British Market Authorities (NABMA) and the National Market Traders Federation (NMTF), the Mission for Markets campaign aims to support the organisers of markets and the businesses which trade on them to meet the challenges faced by the sector.
These challenges include: Encouraging and supporting the next generation of market traders; developing the skills of both market traders and market operators; the affects of structural change to local government on markets; local, national and European legislation; and markets within the high street agenda.
“For those market traders who have battled through the downturn there are reports that trade is on the up. But it is a disheartening fact that a generation of businesses has ceased trading. We will continue to deliver programmes that support market traders to develop their skills in order to sustain and grow their businesses.”
Joe Harrison, chief executive, NMTF
The sector turned a corner in 2012. Collective turnover has increased by £200 million year on year. Operators continue to invest in retail markets, with £36.6 million invested in 2014/2015. NABMA and the NMTF forecast that retail markets will turn over £4 billion by 2020. Shopper and trader confidence is returning.
On 21 September 2015, NABMA and the NMTF launched the Mission for Markets publication at NABMA's annual conference in Harrogate, North Yorkshire. The publication outlines a strategy for the retail markets sector and concludes with 34 recommendations and a five point manifesto.
The publication has been kindly sponsored by WMC Retail Partners PLC in recognition of our industry's sincere gratitude for the work of the late Krys Zasada.
What's next for Mission for Markets? Tell us what you think about the issues discussed and the recommendations forwarded in the publication. NABMA and the NMTF are consulting with their members to develop a programme of future work based on the strategy outlined within it.
Click the image (above right) to read the Mission for Markets publication in an e-reader. Alternatively, click here to download a PDF (11MB). For more information about Mission for Markets, market operators and market traders can contact, respectively, NABMA and the NMTF using the details below.
T: 01691 680 713
T: 01226 749 021
Don't forget to keep in touch, we really appreciate your feedback and comments.
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Mission For Markets is a campaign run jointly by NABMA and NMTF