PwC has released the findings of research it commissioned from the Local Data Company in respect of shop closures in shopping centres and retail parks during the first six months of this year. It found that an average of 50 outlets a day were closed as a result of the impact of the pandemic and accelerated change in shopping habits. Not that this will come as a surprise to anyone visiting a city centre where the decline in footfall exacerbated by a drop in commuter numbers has hit hardest. Out of town and edge of town retail parks with DIY and furniture retailer presence have fared somewhat better.
Just under 3500 stores opened during the first six months of 2021 but more than 8700 closed equating to a net decline of 5250 outlets. This was however somewhat less stark than last year when a further 750 outlets closed. It is the fashion sector which has been most impacted but there has also been a notable decline in betting shops, banks, car showrooms, and charity shops.
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