Thousands more retailers to close by 2015

The company BDO has predicted that another 26,500 shops, bars and restaurants will close by 2015

Despite the fact that consumer spending is expected to increase to 2.8% it predicts that 6,300 bars and restaurants and 1,500 home ware retailers will go under in the next 5 years

Sounds pretty frightening but actually the point BDO were making was that the consumer has been changed irrevocably by the recession. They believe that consumers have shifted to a more reasoned and thoughtful form of consumption. Demand for individualised service now dictates consumer spending, with shoppers less impressed by size, volume or even variety of product, and instead make their purchasing decisions based on individualised service and personal shopping experiences

Their predictions are that shops and restaurants who fail to respond to the new consumer will inevitably end up failing.

BDO are directing the report to large retailers who they are advising to start targeting consumers more specifically rather than blanket emails and advertising but we like to think that if their predictions are true then the biggest winners will be the small independents who have the most personalised service of all