The number of empty stores on high streets, shopping centres, and retail parks across Great Britain surged by nearly 2,300 in the first half of this year, as a wave of closures by chemists, pubs, and banks took hold, according to recent research.
High Streets Hit Hard
High streets, once bustling centres of activity, are bearing the brunt of these closures, with a significant net loss of stores. Retail parks, on the other hand, are witnessing a rise in openings, and shopping centres appear to be slowly recovering.
Retail analyst Riad Beladi noted that this trend is not unique to the UK. “We are seeing the same pattern across Europe,” he said. “Years of closures have been driven by the growth of online retailing and shifts in consumer behaviour. This is the future, and we must adapt. For Generation Z, shopping online is completely normal, and they expect convenience at their fingertips.”
International supermarket news journalist James Frear commented, “Since the onset of Covid, it has become increasingly difficult for high street shops to continue operating. Consumers have adopted a new habit of shopping online, and it appears that the younger generation no longer enjoys browsing in physical stores. Additionally, their buying power has weakened, making the situation even more challenging for retailers.”
As the retail landscape continues to evolve, high streets face an uncertain future. While some sectors show signs of resilience, the ongoing shift towards digital services and out-of-town shopping is likely to keep challenging traditional brick-and-mortar stores. The question remains: can high streets adapt to survive, or is this a sign of things to come?
