The rate of shop closures in the UK for H1 2020 has surged over 70% when compared to H1 2019, a study has revealed.

The net decline in shops for H1 2020 is also higher than the net decline for H1 2018, H1 2017 and H1 2016

The rate of shop closures in the UK for H1 2020 has surged over 70% when compared to H1 2019, a study has revealed.

According to data from PwC and The Local Data Company, 11,120 retail outlets have closed in H1 2020 while 5,119 have opened, creating a net decline of 6,001 shops compared to a net decline of 3,509 for H1 2019. The net decline in shops for H1 2020 is also higher than the net decline for H1 2018, H1 2017 and H1 2016.

Lisa Hooker, consumer markets leader at PwC, said: “We know that the pandemic will continue to impact the way we work, rest and play, however, in terms of how we shop, this isn’t new. What we have seen is an acceleration of existing changes in shopping behaviours alongside forced experimentation from COVID-19 restrictions.

“We all knew that consumers were shifting to shopping online or changing their priorities in terms of the things they buy, but what COVID-19 has done is create a step-change in these underlying trends to where they have now become the new normal.”

Lucy Stainton, head of retail and strategic partnerships at The Local Data Company, added: “The results from H1 2020 are a stark reminder of the challenges faced by retailers in the first six months of the year, which included a national lockdown. There are signs that this is just the tip of the iceberg, as 22% of the multiple market is still closed temporarily.

“With each week that passes since retail and hospitality businesses were given the green light to reopen, the likelihood of these occupiers ever trading again in those units reduces. This, alongside the impact of local lockdowns and other restrictions such as the 10pm curfew will continue to have a devastating impact on the sector with more closures likely to fall in Q1 2021 following the busier golden quarter.”