With the European Withdrawal Agreement (aka Brexit) looming and a snap General Election inevitable, UK Retail Market Performance was always going to be a difficult one to predict in 2019. The latest report from Local Data Company, GB Retail & Leisure Market Analysis, reveals how the UK retail market performed in 2019.
The latest report from Local Data Company, GB Retail & Leisure Market Analysis, reveals
how the UK retail market performed in 2019. According to the report, both retail openings and closures in the UK were up year on year. In H1 2019, retail openings rose by 12% (22,115) compared to the previous period (19,803). The report provides an overview of the top performing retail categories based on new openings, the retail categories in decline based on closures, and the top early stage retail growth categories in 2019.
Significant findings included:
- Barbers saw the biggest growth in H1 2019 with 352 new openings
- Public Houses & Inns saw the biggest decline in H1 2019 with 282 closures
- Vegan Restaurant were the top early stage retail growth category in H1 2019 with a 28.6% increase
According to the report, both retail openings and closures in the UK were up year on year. In
H1 2019, retail openings rose by 12% (22,115) compared to the previous period (19,803). The report provides an overview of the top performing retail categories based on new
openings, the retail categories in decline based on closures, and the top early stage retail
growth categories in 2019.
The top retail categories:
- Barbers (352 new openings)
- Beauty Salons (179 new openings)
- Nail Salons (109 new openings)
- Cafe & Tearooms (108 new openings)
- Health Clubs and Gyms (103 new openings)
- Bars (89 new openings)
- Alternative & Complementary Medicines (60 new openings)
- Hair & Beauty Salons (56 new openings)
- Chinese Fast Food Takeaways (50 new openings)
- Mobile Phones (42 new openings)
The health and beauty retail category thrived in 2019, occupying 6 of the top 10 categories.
The report suggests that independent retailers (a fascia with fewer than 5 units nationally)
outperformed multiples.
Retail categories in decline:
- Public Houses & Inns (282 closures)
- Estate Agents (270 closures)
- Petrol Filling Stations (172 closures)
- Newsagents (147 closures)
- Gift Shops (128 closures)
- Women’s Clothing (104 closures)
- Convenience Stores (101 closures)
- Electrical Goods (92 closures)
- Mens Clothing (91 closures)
- Furniture Shops (90 closures)
The rate of retail vacancies in the UK rose to 13%, a 0.6% increase compared to the same
period in 2018. The last time UK retail vacancies were at 13% were in August 2015.
Fashion stores make up 3 of the top 10 retail categories in decline. These categories have a
combined net decline of 258.
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Local Data Company www.localdatacompany.com
GB Retail & Leisure Market Analysis, published by Local Data Company, focuses on the first 6 months of 2019. Local Data Company has a database of over 600,000 addressable, field-researched points of interest including over 360,000 independent premises, and every chain retail and leisure brand across the UK.
