|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    18th of January 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Economy News feed Economy News

All Financial News feed All Financial News




Shops vacant as customers drift away

Bookmark and Share

by Gill Montia
Shops vacant as customers drift away

The vacancy rate for shops across Britain’s High Streets and shopping centres stands at over 11%, according to new research from the British Retail Consortium (BRC).

Northern Ireland (17.1%), Wales (13.4%) and the North and Yorkshire (13.1%) recorded the highest vacancy rates, as overall footfall between May and July 2011 fell 1% compared with a year earlier.

In terms of footfall, the hardest hit locations were Wales (-9.2%), the West Midlands (-6.6%) and the East of England (-6.2%); the only locations to see shopper numbers rise were Greater London (+1.6%), the South West (+0.4%) and Scotland (+0.2%).

Falling numbers were driven by a 1.9% decline in people visiting out-of-town complexes, although over the last 12 months High Streets have seen the highest drop in footfall, at 2.6%.

BRC director general, Stephen Robertson, comments: “Fewer people are shopping because households are facing high inflation, low wage growth and uncertainty about future job prospects.”

He adds: “But that’s slightly offset by hard-up customers spreading their spending over more but less costly shopping trips.”

Discuss this in the Finance Markets forums

Story link: Shops vacant as customers drift away



News posted: August 22, 2011

Financial Services:





Related financial stories to: Shops vacant as customers drift away:
Previous: «
Next: »

Visited 2051 times, 1 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: ,