Ashfords has previously covered the challenges faced by the retail sector (here: https://www.ashfords.co.uk/news-and-media/general/restructuring-options-for-retail-businesses-update) and our views on how the high street will need to evolve to survive (here: https://www.ashfords.co.uk/news-and-media/general/opinion-this-is-how-clifton-village-and-gloucester-road-are-surviving-high-street-crisis). The latest industry figures show that the decline of the High Street continues, with out of town shopping destinations favoured by consumers wanting a balance “between convenience and experience”.
The number of empty shops in town centres is at its highest for four years, industry figures show. The vacancy rate was 10.3% in July, its highest level since January 2015, according to the British Retail Consortium and Springboard survey. In contrast, footfall in retail parks increased by 1.2%