The past few years have been extremely difficult for shop owners in the UK as the high street has seen a marked decline in the number of people visiting on a regular basis. There are a number of factors which have contributed to this, including the fact that the recession means that most people have less disposable income and online shopping has increased in popularity.

This has led to some of the most well-known high street companies closing down some of their stores or going into administration as they couldn’t keep up with rent or shop insurance payments, such as Woolworths, HMV and Jessops. Smaller shops have also been hit, meaning that we have seen a large proportion close down and empty shop fronts become a similar sight in the UK’s high streets. There have also been complaints that the types of businesses now seen on the high street has reduced meaning there are now more charity shops, restaurants and betting shops.

In fact, a report carried out by PriceWaterhouseCoopers has shown that more people now look to the high street for “leisure and services” instead of retail purposes. Discussing the report, PwC retail partner Mark Hudson said: “Gradually the high street will become a place where people go to eat and consume services. I think the shake out we are seeing has another five to ten years to go. The reality of the situation is that impact of the increase in online shopping hasn’t really played out yet. We haven’t got to the end game.

“Really, internet broadband came onto the scene in a big way in 2007, so the broadband revolution has only been going five years. And people have only really started using their smartphone to shop in the past year or two. Technology is moving faster than the pace at which retailers can catch up.” However, it’s not all doom and gloom for the UK’s shop owners as the report also went on to show that the rate of shop closures is actually slowing.

The report showed that between January and June this year a total of 3,336 stores closed which is an average of 18 per day. However, during the same time period 3,157 new shops opened, meaning the net reduction was only 209 – an 80 per cent improvement compared to 2012. The crux of the matter is that the UK high street is changing and in order to stay afloat it is important for shop owners to adapt their offerings.

One campaigner who agrees with this idea is Bill Grimsey, who previously worked in retail and now campaigns on the behalf of the UK’s high streets. Discussing the PwC report he said: “I’ve yet to see the finer details of the PwC report but it highlights what we’ve been saying about the changing nature of the high street. I believe it’s better to manage that transformation on a more orderly basis than sit back and watch it happen.”

So what does this mean for UK’s shop owners? Well two things: firstly that there are signs the high street is improving and shop owners will soon have the ability to promote their wares to a larger amount of people, and secondly the traditional retail store is no longer as valued on the UK high street. Therefore, in order to ensure success in the future shop owners need to focus on making their establishment part of the ‘high street community’.

This means that in the next few years service could become even more important than the products a shop offers, and shop owners that treat their customers well and focus on building relationships will see more success. PwC insolvency partner and retail specialist Mike Jervis said: “The shifts in multiple retailers’ store portfolios are a barometer for changes in our society and its habits.”

Even though the next few years may not be easy for shop owners the fact of the matter is that success can be had as long as shop owners adapt to the needs of their customers. It will be interesting to see the tactics that various shops choose to employ and how they will alter the high street in the future.