New store openings at lowest level since 2010 according to LDC
New research from the Local Data Company shows that 2017 saw 4,083 new store openings across the UK’s top 500 town centres. And with 5,855 store closures the year saw a net loss of 1,772 shops.
Fashion and shoe shops were the hardest hit while coffee shops, book stores, ice cream parlours and beauty salons saw a net increase in stores. Regionally, Greater London lost a net 336 shops, the South East 185 and the East of England 184. Scotland lost a net 148 shops and Wales 53.
The research was commissioned by PwC and consumer markets leader Lisa Hooker said that, while 2017 had been tough for retailers, “It’s important to remember the British high street still plays a vital role in society and there are elements of growth amongst the headline numbers of decline. For example, almost 400 new clothes shops opened last year, even though over 700 closed. And, while four pubs a week closed, at the same time three a week opened.”