11,000 chain operator outlets shut their doors to the public between January and August this year, according to PwC. A net decline of 6,001 stores was recorded in the same period last year. However, consumer markets leader Lisa Hooker said the lockdown merely accelerated an already existing trend of people moving to online shopping. Notably, there has been a steady rise in shop closures since 2017 when 6,453 shops closed.
Value retailers and discount supermarkets have seen consistent growth over the last five years, with leisure likely to ‘remain resilient’. PwC’s data also predicted local tradesmen outlets, building products and locksmiths, as services such as banks and post offices move away from the high street.