Traditional retail markets have 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. In 2015, the sector had 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 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.
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. 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