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Spending growth in market towns - but not Hereford
8:30am Friday 15th March 2013 in News
HEREFORD shoppers are spending less close to home, a survey revealed this week.
The results reveal a six per cent drop in ‘convenience goods’ spending over the last five years.
At a time when online shopping and the effect of a prolonged economic recession have hit Hereford’s retailers, the county’s market towns have, however, found a way to buck the trend.
In Kington, residents are now spending 11 per cent more of their wages in the town than in 2007.
While it is a worrying trend for Hereford, the city still retains the largest share of any catchment area – in 2012 the city’s shoppers bought 83 per cent of their convenience goods locally, despite the six per cent decrease, compared to 64 per cent in Kington.
The Core Insight report – available through Herefordshire Council’s website – does claim that better times lie ahead and that demand for convenience shopping in Hereford will be met by the Old Livestock Market (OLM) Development.