Market traders are feeling the pinch in Hampstead Community Market, a posh part of London. They reckon they’re lucky to be here, or they’d go bust. Rent hikes, business rate increases, National Insurance, and minimum wage increases are giving them a hard time this month.
The Ham&High had a chat with some of the traders to see how they’re coping with the rising costs. Eva Fuertes, who co-owns the Montadito cheese and charcuterie specialist stall with Victoria Skyftou, says Brexit and the pandemic were tough, and now the National Insurance rise is making it impossible for them to hire staff. She mentions, “We used to import directly from Spain, but after Brexit, that became almost impossible. During Covid, we started adding more products. It’s really tough. We’ve been struggling since the start of Brexit, and every year, there’s something new to add to the struggle.”
Eva also talks about suppliers making extra demands, like asking for a minimum order of £300 instead of her usual £100. She says, “People always moan about the prices, but they don’t get it. They think just because we’re a stall and not a shop, we don’t have to pay anything, but we do. It’s been a massive effort this year to cut expenses as much as we could.”
Farza Emami and Patrick Bourke, butchers at MEAT Naturally, have been in the market for 17 years and have regular customers, but they still face difficulties. Farza mentions, “Hampstead people are rich, but since Brexit, a lot of our customers have left; City people, European people, they found it cheaper to work abroad.” She adds, “We’ve noticed the shrinkage, it’s been fairly consistent.”
Their neighbor, Amin Khetta, relaunched their stall as Pizza Napoli recently, changing from Mediterranean food due to lack of regular customers. They’ve even got deals with Deliveroo and Eat. They had to expand, he says.
Hampstead Seafoods, a family business, has been in the market for 35 years. Daniel Abrey, the fishmonger, mentions that it’s been quieter during school holidays, religious holidays, and events like Wimbledon and Ascot. They’ve taken a hit from Brexit and Covid too. The prices of their products keep going up, but they try to keep them as low as possible.
Some of the price rises have been quite steep. Salmon roe has gone up from £11 to £21, white crab from £20 to £42, and they don’t sell herring roe anymore. Daniel explains, “Since Brexit, less stuff is imported, and certain things we used to get, we don’t anymore. It used to be £2,000 per transit, and now it’s £10,000, so we’re importing less and less. When there’s war, gas and energy go up, and that affects us all as well.”
Despite all the challenges, the traders are doing their best to provide the best quality products for the people of Hampstead. It’s tough out there, but they’re determined to keep going.
