We hear from the British Retail Consortium that 2019 saw the first annual sales decline since 1995, as multiple High Street retailers faced distress, in what can be known as the High Street Crisis.
Many retailers, as seen indicated in our infographic below, as well as from looking through our catalogue of News, were hit in 2019.
Our High streets are being demolished.
Why is this?
Simply, a lack of consumer confidence, Brexit uncertainty, fierce online competition and business rates increasing.
Be aware that these figures do not include the entire retail market, as some fast-growing online retailers are excluded i.e. Amazon. However, Helen Dickinson, Chief Executive of BRC, believes that the figures give an accurate picture and represent the majority of retail sales.
‘’ While it is not 100% of retailers in the country, some businesses that aren't included will also be compensated by those that have gone bust’’