Store closures hit record levels as restructurings drive largest net decline in testing retail climate

11 September 2019 by PwC and the Local Data Company
  • The first half of 2019 saw a net decline of 1,234 chain stores on Britain’s top 500 high streets - the highest number since analysis by PwC and the Local Data Company began in 2010
  • In total, an average of 16 stores a day closed, as restructurings and the online migration of shopping and services continue to hit the high street
  • However, store openings rose by c.4% highlighting the potential opportunities for new entrants as well as established retail and leisure brands

Heightened restructuring activity has seen the half-year net reduction in stores on Britain’s high streets hit record levels according to research by the Local Data Company  and PwC.

The first half of 2019 saw almost twice as many store closures (16 per day) as openings (9 per day). In total, 1,634 stores opened and 2,868 stores closed over the period, leading to a net decline of 1,234 stores (compared with a net decline of 1,123 in the first half of 2018).

On a sector by sector basis, only 15 out of 96 sectors showed a net growth in store numbers, and all but two grew by only a single digit number of outlets: takeaways with a net increase of 26 outlets, and sport and health clubs with a net increase of 17. Meanwhile, the biggest net declines were seen amongst fashion retailers (-118), restaurants (-103), estate agents (-100) and pubs (-96).

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Meet the speakers at our 20th Retail and Leisure Trends Summit

04 September 2019 by Sarah Phillips

On the 26th September, we'll be hosting our 20th Retail and Leisure Trends Summit. As ever, we are thrilled to be joined by some of the biggest names in retail, leisure and tech who will be sharing their experiences and opinion on how the market is being 'reset' to facilitate a successful future.

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[Infographic] Do we have too much retail stock?

03 June 2019 by Local Data Company
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[Infographic] How did the physical retail and leisure landscape change over 2018?

03 June 2019 by Local Data Company

*Multiples include all brands with five or more units nationally.

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[Infographic] Mike Ashley's Growing Empire

03 June 2019 by Local Data Company
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2018 sees growth in independent stores across shopping centres as landlords look for diversity and unique occupiers to replace closing chains

Data released today by the Local Data Company and the British Independent Retailers Association (Bira) shows that 2018 saw growth in the number of independent stores in shopping centres, with 1,951 new openings leading to a net gain of +87 (+1.1%) compared to a net decline of -88 in 2017 (-1.1%). Independent retailers played key role in replacing the net loss of -811 chains in shopping centres - due to retailers rationalising estates. Shopping centre owners are becoming increasingly creative with vacant space, splitting it into smaller units which are more suitable for independent occupiers.

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Our latest analysis on market change over 2018 is out now!

02 May 2019 by Sarah Phillips

Today we have released our latest report which quantifies all the market change across the physical retail and leisure landscape over 2018. From the raft of CVAs, administrations and other closure programs launched by retailers to the explosive growth of service categories such as barbers and nail salons - 2018 was a year marked by change.

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Black friday footfall analysis

28 November 2018 by James Anderson

Love it or hate it, Black Friday is one of the major retail events of the year with some retailers offering huge discounts across products in a bid to attract shoppers to their stores. Insight Analyst James Anderson reviews the data from our network of SmartStreetSensor footfall devices to understand the footfall trends for this year compared to 2017.

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Sitting pretty – the rise of beauty retailing in the UK

17 October 2018 by Lizzie Bollada

With the rise of social media and an increasing focus on one’s health and wellbeing, the beauty industry in the UK has recently taken centre stage in consumers’ minds. The beauty industry in the UK is currently worth £2.8 billion (Source: The Guardian) and is predicted to rise steeply to £27 billion by 2020 (Source: The Times). We wanted to understand what this lucrative market looks like today in order to identify the opportunities which will facilitate the increased value of this market.

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Innovation in fashion: what to take on board to make sure you don’t get left behind

09 October 2018 by Springwise Editorial Team

Fashion, almost by definition, is a fluctuating industry. Trends rise and fall, and the successful brands are those that identify spaces for growth ahead of the competition. At Springwise, we pride ourselves on delivering cutting edge insight to help our clients drive positive, sustainable change. Based on our experience tracking disruption and curating innovations from all over the world, we offer here our expertise on how fashion retail can incorporate innovation to the benefit of both company and customer.

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