Yorkshire & Humber high streets continue to struggle

The net reduction in high street stores across Britain remains at record levels, according to research compiled for PwC by the Local Data Company (LDC).

High street retailers continue to be affected by growth in online shopping, the shift to in-home leisure and heightened restructuring activity.

Towns  and cities across Yorkshire and the Humber recorded more closures than openings in the first half of 2019, the research shows.

The PwC/LDC analysis of multiple retailers in the top 500 town centres across Great Britain covered 67,586 outlets run by retailers operating more than five outlets across the country

It found that in the first half of 2019, 152 shops were opened and 241 closed across Yorkshire and Humber, representing an 89-outlet net reduction across the region.

Across Great Britain a record net 1,234 stores disappeared from the UK’s top 500 high streets. In total, 1,634 shops opened, compared with 2,868 closures.

The shortfall between openings and closures is the highest level since the LDC analysis began, as withdrawals from the high street and retailers restructuring their portfolios continued apace into the first six months of 2019.

Lisa Hooker, consumer markets leader at PwC, said: “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.

“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 re-purpose high street space for other uses, while the remaining space evolves to meet consumer demand for convenience, choice and experience.”

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