The UK’s high streets are suffering, with retail closures at a five-year high, new analysis has revealed.
AskTraders analysed data from various sources, revealing that an average of 16 high-street stores closed each day in the UK in the first six months of 2019, while just nine stores opened a day in the same period.
It paints a rather bleak picture for retailers as we move into the busy festive season which traditionally would be a good time for those operating on the country’s high streets.
According to the analysis, Poole in Dorset has the most declining high street in the country. Also in the top five were Blackpool, Warrington, Manchester and Swindon.
Peterborough, meanwhile, was named as the top high street in the UK. The top five in this list also featured Huddersfield, Coventry, Hull and Slough. Many of these locations have bucked the trend and seen an increase in the number of retail stores opening this year.
Steve Miley, senior market analyst at AskTraders, said that the high street will continue to face challenges. “This will be a case of survival of the fittest. Those retailers that can evolve whilst still giving their customers exactly what they want could have a lot to gain,” he asserted.
Making your shop front look appealing is essential if you’re going to draw people in. Investing in on-site paint spraying could be a great way to revamp your retail unit ahead of Christmas.
The Guardian reported that Boris Johnson has unveiled a proposal to pump more money into the UK’s most neglected towns in a bid to help revitalise their high streets and local communities with them.