Clicks to replace bricks in ‘terminal towns’
SOME small towns face a bleak future as shoppers choose to buy more items online.
That’s according to Greg Styles, head of retail at agent Colliers International, who believes the combination of online sales and out-of-town competition will devastate what he describes as, “terminal towns”.
Mr Styles was speaking in Manchester yesterday at the launch of Colliers’ Midsummer Retail Report.
He said online spending is predicted to grow by 62% in the next five years and by 2020 £1 in every £5 will be spent online.
“This will really result in clicks taking over from bricks,” said Mr Styles who also pointed to changing business models at the large retailers, such as Currys owner DSGI, which are focusing on major city centres and shopping centres.
He added: “For some towns this will be devastating and some pitches will never recover.” UK void rates rose from 10.7% a year ago to 11.4%, according to the report.
