Member Article

Yorkshire is UK’s leader in new retail openings

A new study of 500 town centres has shown an increase in the number of retailers operating in the Yorkshire & Humber region for the first half of 2013, the highest rise in the whole of the UK, according to PwC research compiled by the Local Data Company (LDC).

While the region had 244 outlets close in a six-month period there were 265 openings in the same period, a net increase of 21 stores, compared to a net decrease of 42 for the same period last year.

Yorkshire and Humber is only one of three regions with a net increase, along with the East of England and the South West, and has experienced the largest increase of these three.

Nationally, the rate of store closures stores has fallen slightly from a decline of more than 20 a day in the first six months of 2012, to 18 per day in the first half of 2013,

The changing profile of town centres is very clear as goods shops of a more traditional type (e.g. shoe and clothes shops) pulled down the shutters. This comes in stark contrast to a near tenfold increase in the UK in the openings of leisure (food, beverage and entertainment).

Randal Casson, partner and retail specialist, PwC Leeds said: “It is still tough for the retail sector but this report shows that Yorkshire is faring well compared to the rest of the regions in the UK.

“The opening of the iconic Trinity Centre in Leeds, and the new Leeds Arena have been huge successes for the city, and this increase in both leisure and retail openings has boosted consumer confidence and spending.

“Overall the shifts in multiple retailers’ store portfolios are a barometer for changes in our society and its habits. Closures in areas such as the photography and video sectors reflect the sea-change in how consumers are spending - the well-publicised insolvencies at Jessops and Blockbuster are stark proof of that.

“Women’s clothing store reductions reflect the intense competition in this sector, with so many fascias on our high streets. More convenience shops have opened as multiple grocers seek ways to increase further their market share.”

Nationally, the data also revealed that across multiple retailers in 500 town centres photographic shops, women’s clothing, video libraries, banks, recruitment agencies, shoe shops, furniture shops and travel agents have been amongst the hardest hit in the first half of 2013.

This was posted in Bdaily's Members' News section by Mark Lane .