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Bookshops are "holding their own" in a tough climate, after new figures revealed the number of bookshops remained flat for the first three months of the year.
According to figures from The Local Data Company (LDC), which tracks businesses in 705 town centres across the UK, at the end of 2009 there were 2,106 bookshops. By 23rd March this figure had fallen by just one shop.
Matthew Hopkinson, business development director at LDC, said bookshops should be able to survive because of the service they provide. "You’ve got to know your stuff and know your customers," he said. "You’ve got to be bespoke in your approach and offer something no one else is."
For the final six months of last year there was a net closure of 30 bookshops, and for the last six months to 23rd March there was a net closure of 44. However, after stripping out the closure of Borders and Books etc’s 45 stores in December, there was a net opening of 15 shops and one during the respective periods.
The number of rare and secondhand bookshops also rose by 4.1% to 222 (six months to 31st Dec) and 3.4% to 232 (six months to 23rd March).
Robert Clark, an analyst at Retail Knowledge Bank, said: "Given the low interest rates that are available and scepticism about shares, collecting is becoming a more favoured option instead of saving and investing." But Clark warned the second half of the year could prove tough for retailers.
The budget, revealed yesterday (24th March), announced a bonus tax on banks to help fund a one-off £2.5bn initiative to help small businesses, which independent bookshops could benefit from.