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15 stores ‘disappearing’ from UK high streets every day, new analysis uncovers…

New data compiled by the Local Data Company (LDC) and PricewaterhouseCoopers (PwC) has revealed that an average of 15 retail stores a day are faced with permanent closure, as analysts found that 2,656 shops closed down on the UK’s high streets and retail parks in the first six months of this year.

Calculated as a slight increase on the 14 stores a day recorded in H1 2015, the number of new openings has also fallen and has led to a net 503 stores disappearing from shopping centres and high streets in H1 2016; representing the highest net decline since H1 2012, when 953 more stores closed than opened. (Fig 1).

Figure 1.

pwc-fig-1 

Inevitably, the analysis of 66,401 outlets operated by multiple retailers across 500 UK town centres, also pinpointed online shopping’s growing popularity to be a contributing factor; indicating there are over 22,200 click and collect services across 130 of the largest national retailers. Carphone Warehouse (+129), ScrewFix (+58), Toolstation (+36) and LloydsPharmacy (+33) have experienced the biggest growth in click and collect services between 2015 and 2016.

 

Read the full research here