The worst decline on record for the high street
More than 17,500 chain store outlets disappeared from Britain’s high streets, retail parks and shopping centres in 2020, as a result of the Covid-19 pandemic. The lockdowns caused average daily closures of 48 shops, restaurants, hospitality and leisure venues.
It was the worst decline on record for the high street, according to data compiled by the Local Data Company and accountancy firm PWC, covering England, Scotland and Wales.
There was an instant switch to spending online and utilising digital services when the high street and physical stores were closed.
Shopping is returning to the high street
The boom in online shopping has, without a doubt, changed people's shopping habits. However, in recent times, it seems that more and more people are venturing to their local high streets, shopping centres and retail parks.
Expansion plans
The appetite for physical shopping is returning, and there is vast evidence from popular retail brands undertaking aggressive expansion plans in bricks and mortar including;
Screwfix has continued to drive its expansion with another record year of store openings, opening 87 stores in the past 12 months. Read more…
Pets Corner will open 10 new stores before the end of the year after securing an eight-figure funding package from HSBC. Read more…
Greggs eyes expansion to ‘significantly more than 3,000 UK shops’ after sales surge past £1.5billion. Read more…
Moss Bros has revealed plans to expand its store footprint and marketplace offer after its profits more than doubled. Read more…
The Fragrance Shop to open more than 100 stores over the next three years. Read more…
Poundland owner Pepco unveils plans to open 400 new stores. Read more…
Sosandar, an online clothing retailer, plans to open its first physical stores in 2024... Read more…
One Beyond is considering taking on about 50 ex-Wilko units as part of its expansion plans. Read more…
Sephora announces its second physical UK store in Westfield Stratford City, London. Read more…
Lounge Underwear plans to open eight stores in the next 12 months. Read more…
Mango has revealed plans to expand its footprint in the UK with 13 new stores to open this year. Read more…
Søstrene Grene celebrates 50 years with record profits and UK store expansion. Read more…
How to encourage shoppers back into physical stores
Whilst retailers can get excited about the return of a busy high street, it’s important to not be complacent and lose sight of delivering a great customer experience. There is still the temptation to shop online, and even worse… the competition!
So, providing a great, memorable consumer experience is critical. Using the award-winning Behavioural Measurement Score® (BMS®) can increase the propensity to purchase, and the likelihood to return. Read more about BMS® here…
