The Retailer Autumn Edition_2020

The full Local Data Company report on H1 2020 is available as of 4th November to download free of charge at localdatacompany.com/ insights/reports

When lockdown restrictions were at their peak, footfall volumes were approximately -80% compared to the same week in 2019 across

Growing and declining categories Barbers grew the most in H1 2020, with a net increase of 430 barber shops. Barbers is the category which has grown the fastest for three years now as the popularity of men’s grooming increases. These businesses have been resilient and have been able to take advantage of pent-up demand created during lockdown. Beauty salons increased by 308 units, up from +179 in H1 2019. Nail salons also saw growth of 129 units, however the growth in both of these sectors was largely pre-lockdown. The biggest net decline in H1 2020 was seen in bookmakers, losing 867 units over the period with most closures taking place pre-COVID. Other declining categories were mobile phone stores (-586) and fashion shops (-371). Vacancy rate changes In H1 vacancy increased by 0.9% to reach 13% which is both the greatest increase in a half year period and the highest vacancy rate that we have on record. Looking at the retail sector (excluding leisure) the retail vacancy rate also increased by 0.9%, reaching another highest-ever rate of 14.2%. While the high street has had lots of negative press, shopping centres are faring the worst. Vacancy in shopping centres hit 15.6% in H1 2020, 3% higher than high streets (12.5%). While vacancy on retail parks has always been lower, a spate of closures for retail park brands has resulted in vacancy doubling from 4.9% at the end of 2017 to 8.8% in H1 2020. However, units on retail parks are in demand due to the availability of space, ability to accommodate drive-thru venues and plentiful parking, which with a cautious consumer and social distancing measures in place have new significance. These are just some of the key trends we have recorded for H1 2020, which has been intensely challenging for all. With about 23% of the market yet to reopen following lockdown, attention must be paid to what will happen to these businesses, which, if not trading already are increasingly unlikely to do so. No one could have predicted COVID-19 and the impact it would have on the retail landscape in Britain. However, we firmly believe that there are still opportunities in the market for retailers and reliable data on the changing landscape is the key to unearthing them.

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LUCY STAINTON // lucy@localdatacompany.com

the retailer | Autumn 2020 | 7

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