William Eichler 11 September 2019

High streets see ‘record decline’ in shops as 16 close each day

High streets have been hit hard this year with a record decline in store numbers being recorded for the first half of 2019.

Research from the services firm PwC reveals that the first half of 2019 saw 1,634 stores opened and 2,868 stores closed over the first six months of this year.

This represents a net decline of 1,234 chain stores on Britain’s top 500 high streets, the highest number recorded since 2010 and an increase on 2018 which saw a net decline of 1,123 in the first six months.

It found that while store openings rose by 4%, overall there were twice as many store closures (16 per day) as openings (9 per day).

PwC says the decline of high street shops is the result of companies restructuring and customers shopping online.

‘The record net decline in store numbers in the first half of 2019 shows that there’s been no let-up in the changing ways that people shop and the cost pressures affecting high street operators,’ said Lisa Hooker, consumer markets leader at PwC.

‘While retailers need to keep investing to make sure their stores and propositions are relevant to today’s consumers, it’s also critical that all stakeholders find ways to ease the burden on operators, keep investing in the high street, and encourage new and different types of operators to fill vacant space.

‘The good news is that there are green shoots, as new entrants are entering even embattled sectors such as fashion. Our research tells us that consumers still want to spend their money in well located and invested stores and leisure venues on the high street.

‘However, as consumers continue to change the way they shop and spend their leisure time, the reality is that we may need fewer high streets in the future.

‘This opens up opportunities to repurpose high street space for other uses, while the remaining space evolves to meet consumer demand for convenience, choice and experience.’

SIGN UP
For your free daily news bulletin
Highways jobs

Senior Business Change Officer

South Derbyshire District Council
£28,226 - £30,984
A fantastic opportunity to join an ambitious and transforming Council. Swadlincote, Derbyshire
Recuriter: South Derbyshire District Council

Service Director - Community Development

South Gloucestershire Council
From
£84,437
Recuriter: South Gloucestershire Council

Team Support Worker

Leicestershire County Council
£20,856
An exciting opportunity has arisen to work to assist in the coordination to support the management of a comprehensive countywide Team Support Service. Leicester, Leicestershire
Recuriter: Leicestershire County Council

Assertive Inreach Worker

Leicestershire County Council
£22,575
We now have an exciting opportunity to join our team working as an Assertive Inreach Worker. Leicester, Leicestershire
Recuriter: Leicestershire County Council

Assistant Early Education Funding Officer

City of Bradford MDC
£22,129 - £24,920
An exciting opportunity has arisen within the Intelligence and Sufficiency Service to work within the Early Education Funding team. Bradford, West Yorkshire
Recuriter: City of Bradford MDC

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.