Some 63.4% of respondents cited reduced customer spending and footfall as their greatest challenge, followed by competition from online platforms (57.4%) and increasing employment costs (39%). Rent rises (21.1%), business rates (14.7%) and limited high street regeneration funding (22.7%) were also key concerns.

A total of 84% said they lacked confidence that the government was doing enough to support the sector. Most of those surveyed run a single store (89.4%) and employ fewer than five staff (86.3%).

Despite this, many businesses remain resilient. More than a third (36.7%) have traded for over a decade and 62.8% have operated for more than three years.

Retailers called for greater financial support to help them remain viable, including increased small business grants (39%) and a freeze or reduction in business rates (26.7%).

They also highlighted the need for local interventions such as improved high street infrastructure (49.4%), community events (49.8%), affordable parking (46.6%) and marketing assistance (76.9%).

Soraya Gadelrab, Spring and Autumn Fair event director, said: “This data shows how much independent retailers are struggling – but also how much they matter. The high street is more than a place to shop. It’s a space for connection, culture, and community. If we want thriving towns, we must start by backing the businesses that hold them together.”

Alex Schlagman, founding partner of SaveTheHighStreet.org, added: “These findings reveal just how critical it is to remove the barriers holding small retailers back. Through smarter support, local partnerships, and focused innovation, we can level the playing field and ensure independent businesses thrive in a changing world.”

Spring and Autumn Fair and Save The High Street.org are calling on the government to implement targeted reforms and infrastructure investment to prevent further closures and community decline.

The downturn affected most retail locations, with High Streets down 2.5% year-on-year, and shopping centres falling 2.3%. Retail Parks saw a slight increase of 0.2%.

All four nations recorded annual declines in footfall, with England posting the steepest fall at 2%, followed by 1.4% in Northern Ireland, 0.7% in Scotland and 0.4% in Wales.

Helen Dickinson, chief executive of the BRC, said: “Despite favourable weather throughout May, footfall took a disappointing turn last month, following a more promising start to the year. While stock markets stabilised, higher household bills depressed consumer sentiment and the appetite to visit retail stores.

“The chancellor’s 2024 Budget added £5bn to the industry’s costs. The government must now ensure that upcoming reforms to business rates to be announced in the 2025 Budget leave no shop paying more.”

Andy Sumpter, retail consultant EMEA at Sensormatic, added: “Despite the warm and sunny weather footfall didn’t quite follow suit, suggesting that consumers may have favoured outdoor leisure over shopping. Still, May’s result is a marked improvement on the -3.6% seen in the same month last year.

“Encouragingly, consumer sentiment has shown signs of improvement, with more shoppers feeling optimistic about their personal finances and the wider economy. Notwithstanding ongoing cost pressures, retailers will be looking to make hay while the sun shines – focusing on the right mix of experience, value, and convenience to convert seasonal footfall into sustained growth.”

Jewells has selected locations in major shopping centres including Westfield London; Bluewater, Kent; Lakeside, Essex; Churchill Square, Brighton; The Oracle, Reading; Eldon Square, Newcastle and Westquay, Southampton. Each outlet will span 1,000 square feet.

Jewells stated that the locations are positioned in “high-footfall” centres alongside retailers such as Zara, Sephora and Space NK.

Additionally, the brand plans to open more stores across the UK in the summer and autumn.

Director David Purslow and surveyor Jake Blackwell of real estate firm Newmark advised on the go-to-market strategy and secured the storefronts on behalf of Jewells.

Peter Bohn, chief executive officer of Jewells, said: “From day one, we set out to do something bold, to meet customers where they already love to shop and make an immediate, lasting impression. These seven stores are just the beginning, setting the stage for an exciting journey ahead.”

Leah Uka, chief brand and operations officer, added: “Jewells was built to resonate across every detail – location, design, and customer connection. 

“This portfolio has been curated to reflect the brand’s elegance and energy while positioning us for scale. This coordinated launch is not only a celebration, it’s a signal of what’s to come.”

As the largest multi-signing with any single UK property owner, Jewells’ decision to partner with Hammerson on the roll-out of its casual luxury jewellery business underscores the quality of its assets and strength of Hmmerson’s city catchments. 

Jewells is backed by a proven global operator and investor, who Hammerson already successfully partnered with across its destinations. 

Jewells’ first-ever stores will launch at Westquay in Southampton and The Oracle in Reading on 30 May, with openings at Bullring Birmingham and London’s Brent Cross from June. 

Each Jewells store will be c1,000 sq ft and will showcase Jewells’ “trend-driven” demi-fine jewellery, using premium materials including gold, silver, sustainable lab-grown diamonds and semi-precious stones. The spaces will house bespoke consultations, workshops, and immersive experiences. 

Paul O’Brien, director of leasing and commercialisation at Hammerson, said: “The decision for Jewells to open four of its first stores across our portfolio demonstrates the quality of our destinations and the confidence that leading retailers have in what Hammerson delivers. It also shows the pace we can execute deals, the support we can give to new entrants as they enter our markets, and a collaborative approach to delivering at scale. 

“Jewells is backed by a proven operator and is an excellent fit for each of our locations, resonating with the young, fashion-forward audience our city destinations attract.” 

Leah Uka, chief brand officer of Jewells, added: “Launching our first-ever physical spaces in key destinations across the country has been an important process for us. We have ambitious expansion plans targeting 2,000 stores across 45 countries within five years, and to make that possible, it was necessary for us to establish the Jewells brand in the kinds of high-footfall and high-quality retail destinations that Hammerson have, to engage existing and new customers and create a wonderful retail experience for them.”

During the four weeks from 6 April to 3 May, footfall increased across all segments – high street by 5.3%, retail parks by 7.5% and shopping centres by 5.6%.

Across nations, footfall also increased 6.7% in England, 6.9% in Scotland, 13.6 % in Wales, and the largest increase of 14.3% in Northern Ireland.

However, the BRC stated that this year Easter was in April compared to last year when it was in March, hence the calendar change distorts the year-on-year footfall comparisons resulting in an artificially higher April, but lower March footfall.

Taking March and April together, compared with the same two months in 2024, total footfall increased by 0.2% – high street by 0.2%, retail parks by 2.7%. Meanwhile, footfall in shopping centres decreased by 0.7%.

Helen Dickinson, chief executive of the BRC, said: “Adjusting for the late fall of Easter this year, footfall across March and April showed a small but positive trend, with retail parks continuing to perform the strongest out of all locations. This reflected the unseasonably warm and bright weather right across the UK. In England, the North East saw particularly strong growth in footfall, with Manchester and Liverpool both recording double-digit improvements in footfall. Retailers will be hoping this momentum continues into the summer months.

“If the government wishes to see thriving towns and city centres, it must ensure no shop pays more as a result of business rates reform, thereby enabling retailers’ ability to invest in their local communities.”

Andy Sumpter, retail consultant EMEA for Sensormatic, added: “April brought a welcome rebound in footfall, with shopper numbers rising 7.2% year-on-year across all retail destinations. The combination of Easter trading and the sunniest April on record helped entice consumers back into stores.

“Looking at March and April together however, the overall picture for the UK is more balanced, with footfall across the two months up just 0.2% year-on-year. While this suggests that April’s gains largely offset March’s dip, it also highlights the importance of sustained engagement beyond seasonal peaks. Retailers will now be looking to build on this momentum as we move into the summer months.”

The 1,000 sq ft store in Lakeside shopping centre, which opens on Friday 30 May, is one of seven UK Jewells locations launching on the same day as part of the brands’ official debut.

The company will also be opening a 1,000 sq ft store in Eldon Square on the same day, its only store in the North of England.

The store in Eldon Square will stock an extensive range of jewellery items ranging from £30 to £3,000 as well as offer luxury piercing, fine line tattoo services, personal styling services and a ‘Make your Own Memory’ stack bar.

Leah Uka, chief brand officer at Jewells, said: “We are absolutely delighted to
have the opportunity to open one of our first-ever stores at Eldon Square – a location that
embodies everything we look for in a retail partner.

“As a vibrant and much-loved shopping destination in the heart of Newcastle, Eldon Square offers the perfect setting to introduce the Jewells brand to the North East. We have ambitious growth plans over the coming 12 months and cannot wait to welcome Eldon Square customers to experience everything we have to offer.”

Uka added: “Lakeside is a key location for our launch strategy – a vibrant centre with strong footfall, a great mix of brands and a loyal customer base that aligns with our target audience. Jewells has been created to provide cutting edge, on trend premium jewellery, and we’re excited to bring our unique concept to this part of the UK.”

Founded by Brett Bundy, the person behind the brand Lovisa, Jewells is a “transformative brand geared towards a young female audience”.

Due to open in June, this latest addition is part of the destination’s ongoing retail transformation.
Joining jewellery brands such as H.Samuel, Pandora, and Swarovski, Lovisa will offer its wide selection of necklaces, earrings, and rings, along with in-store piercing services.

Lovisa will also benefit from The Liberty Romford’s strong annual footfall of 13.6 million a year and high dwell time.

According to Lovisa, as the brand continues its international expansion, destinations such as The Liberty Romford that “evolve with the needs of the community, are key in driving brand loyalty and engagement”.

This signing follows the recent announcement of developer HUB being appointed to deliver the next phase in the transformation of The Liberty Romford, which could include the introduction of residential accommodation to the site.

Cushman and Wakefield and Green and Partners acted for The Liberty Romford, whilst Savills represented Lovisa.

Daniel Tucker, leasing manager at The Liberty Romford, said: “The signing of Lovisa marks the next stage in our elevation of The Liberty Romford. We look forward to welcoming what we know will be a popular addition to the destination and have no doubt that Lovisa will deliver an extensive and essential selection in response to our evolving consumer needs.”

The opening represents a revival of the Searle and Co brand, under a separate operator that shares the name, that previously traded at the scheme for 125 years.

The company has taken the 519 sq ft unit 1, which is an external-facing store looking out onto Cornhill, on a new 10-year lease.

The boutique was home to the previous incarnation of Searle and Co from 1896, prior to its closure in 2021.

Searle and Co joins other luxury brands at The Royal Exchange like Tiffany and Co., Bremont, Omega, Montblanc and Hermès.

Andrew Hilston, managing director of The Ardent Companies UK, said: “It is fantastic to see a historic jewellery brand such as Searle and Co return to The Royal Exchange, and highlights its position as the City of London’s leading luxury scheme. Alongside the new dining operators we have brought in, The Royal Exchange is the Square Mile’s destination of choice for premium shopping, eating and socialising.”

In 2024, The Royal Exchange saw footfall 20% up on 2023, with December visitors some 36% higher than during the same month in the previous year.

In parallel, The City of London is undergoing a wider resurgence as a luxury retail and social destination, with The Royal Exchange aiming to play a key role in the revival.

Taking place on 1-2 February 2025, the York Ice Trail consists of a series of elaborate ice sculptures positioned around the historic city centre of York. Bradley’s Jewellers has participated in this initiative for more than a decade and has hosted various competitions to drive footfall and engagement with the event.

In 2025, Bradley’s Jewellers will add to the Ice Trail line-up with a six-foot-tall ice sculpture inspired by its best-selling York Daffodil collection, which was first unveiled in 2022. The range, crafted in sterling silver, 9ct and 18ct yellow gold, features pear-shaped yellow sapphires, round brilliant-cut orange sapphires, and pear-shaped citrines with millgrain detailing to capture the shape and colours of daffodils in bloom.

The collection was designed by Bradley’s Jewellers York owner Kay Bradley to celebrate the plethora of yellow daffodils that bloom around York Minster in springtime, kickstarting what is now a long line of Yorkshire-themed, British-made fine jewellery ranges for the business.

The Bradley’s Jewellers York Daffodil Ice Sculpture will be placed just outside the entrance to the business’ Grade II Listed jewellery boutique on Low Petergate. Its shape and decorative details are all inspired by the York Daffodil pendant in 18k yellow gold, including the sparkling facets of its pear-shaped and round brilliant-cut sapphires.

In keeping with previous years, Bradley’s Jewellers will also host a York Ice Trail competition on its website and social media channels, giving its customers, local shoppers and visiting tourists the chance to win a special piece of jewellery frozen at the heart of the ice sculpture. The retailer has chosen a York Daffodil pendant with yellow and orange sapphires in sterling silver as its 2025 competition prize, complete with a complimentary chain. The total cost of the prize exceeds £1,000.

Bradley said: “Our life-sized ice sculpture focused on laboratory-grown diamonds in 2023
and the impending launch of the Fabergé x Bradley’s Jewellers Christmas Robin Egg Surprise Locket Pendant in 2024, so I wanted to do something different for 2025. The York Daffodil collection has been a consistent best-seller and a popular choice for Yorkshire brides, so it made sense to share its message of optimism, hope and renewal in icy form this February.

“In 2024, we gave one lucky customer the chance to win a mystery loose gemstone, which we then crafted into a piece of bespoke fine jewellery. We worked with the eventual winner to produce a stunning emerald-cut aquamarine trilogy ring in platinum, which was perfectly finished with personalised engraving on the interior surfaces. In 2023, we presented a one-carat laboratory-grown solitaire ring from the York Rose collection after receiving more than 1,000 entries! The York Ice Trail is an event we would never want to miss.”

The group’s turnover also slightly dipped from £57.91m to £57.884m in the face of a competitive marketplace.

Its gross profit also fell from £10.38m to £9.95m.

However, looking ahead, it said that it enters 2025 with confidence in the outlook for the business as it continues with its considered and sustainable expansion plan.

The jewellery brand currently has plans underway with the opening of two additional flagship boutiques in the UK.

During the period, the number of stores remained stable at 27 with stores located at Princess Street in Edinburgh and Bluewater and Bromley and Kingston in London. The flagship boutique in Glasgow is located on Buchanan Street, which has the second busiest retail footfall in the UK, after London’s Oxford Street.

Additionally, the online retail business continued to deliver significant growth during the year and further investment is planned to be able to offer clients an alternative to purchase in store, particularly due to its “strong store positioning” across the UK for click and collect.

Lastly, the company continues to invest in its staff and the longest serving employees have been in the business for over 30 years.